|
One
problem
with
attempting
to
time
your
purchase
to
the
business
cycle
is
that
no
one
can
accurately
predict
the
future.
Another
challenge
is
that
interest
rates
are
generally
higher
during
a
depressed
market
and
income
may
not
be
keeping
up.
For
that
reason,
fewer
people
can
qualify
for
a
home
purchase
than
in
more
prosperous
times.
Why
You
Should
Not
Wait
Plus,
this
strategy
generally
works
best
for
first-time
buyers.
People
who
already
have
a
home
usually
need
to
sell
it
in
order
to
buy
their
next
one.
If
a
"move-up"
buyer
wants
to
buy
a
home
during
a
depressed
market,
that
means
they
usually
have
to
sell
one
during
the
slow
market,
too.
If
a
seller
wants
to
sell
his
home
to
take
advantage
of
a
"hot"
market
when
prices
are
fairly
high,
they
generally
have
to
buy
their
next
home
during
that
same
hot
market.
It
tends
to
equal
out.
Finally,
the
business
cycle
can
change
over
time.
Since
1983,
we
have
had
two
fairly
long
expansions
with
only
a
slight
recession
in
between
each.
You
would
not
want
to
wait
nine
years
to
buy
a
home,
would
you?
You
could
miss
out
on
a
substantial
amount
of
appreciation
by
waiting,
and
end
up
paying
much
higher
prices. |
