What You Can Do About Falling Home Prices
If you already own a home it’s not usually recommended that you sell it just because you anticipate a decline in its value. While you certainly could, you’ll be giving up an important asset based on your best guess about an uncertain future.
The good news is that if you plan to keep your house for the rest of your life, a falling home price isn’t that important to your pocketbook since it doesn’t affect your day-to-day cash flow.
Falling home prices can be a good thing if you’re currently a renter or otherwise out of the real estate market. Although a higher-priced mortgage will cost you more in monthly payments, if you can wait until prices take a significant dip, you might be able to buy in at a price that can lead to a good long-term profit.
