I'm compiling two lists for future posts, and I'd like to enlist the help you, the intelligent readers, to help assure the lists are as complete as possible. The purpose of the posts will be to list common real estate myths and briefly debunk them one by one. Many common myths have had entire posts dedicated to them here in the past, which will of course also be linked to. Following are some examples of the kinds of things I'll be including on these lists.
The first list is "Seattle Housing Market Myths," which will contain items such as:
- Home prices in Seattle are supported by:
- Job growth
- Population growth
- Puget Sound's unique desirability
- Prices here did not go up as fast as other places, so therefore they won't fall.
- Prices can simply level off for a few years while "the fundamentals" catch back up.
- If you don't buy now, you'll be priced out forever!
- Renting is "throwing away" your money. It's always (financially) better to buy, regardless of the circumstances.
- Buying a home is a great way to "build wealth."