When buying a house most people think of it as an investment. But when they shop for one that all goes out the window. If you want to invest in a house you should not think about how cute it is or if the kitchen is large enough for you. You should see only price and value. Your best bet is to buy in the slums or other undervalued markets. You should never use credit to invest, so you should only buy with cash. If your financing or looking for curb appeal, your not the investor. The developer is.
Sorry for the old quote but this just caught my eye.
Truer words have never been spoken.
There are showmen and there are rubes.
Developers and bankers are showmen. Mortgagors are rubes.
Look at what you can buy in Vancouver for 950k.
It's straight madness of the crowd. People don't realize that renting a house or renting money to "own" their house is the same thing but the former is almost always cheaper. There is of course always the option of holding one's nose and moving to Detroit.
