you're attempting to hedge a price decline, not an interest rate. yes, cheap money has fueled demand.
Your post is interesting, but I must take exception to your above captioned reference to a realtor's comments. I think it was Warren Buffet who once said that asking a broker if you should buy stocks is like asking a barber if you need a haircut. I don't see why the same principle would not apply to realtors.
Good point, but this is a guy I've known for 30+ years and he had no reason to misrepresent the situation, though his opinion was surely influenced by his job. And, look at the price trends in north Jersey over the past 50 years, pretty much up. DS
Appreciate all the advice, folks. I think what I'm going to do is simply wait a year. The Fed is supposedly nearing the end of it's tightening, which means I shouldn't lose too much by waiting a few more months in the term of cheap money. Secondly, I have property in Russia here which I can rent out to pay for any rent in the US, and at the same time continue to save for a rather immense down payment on a place in NJ.
lol, ive heard that some car sales reps in my area have two cell phones so to flip houses in their "spare time"... remember dentists trading in between patients? hheeh
Oh, come on, don't be such a spoil sport. What about that shorting builders/shorting bonds/buying gold hedge play that you referred to on page 2 of this thread? Maybe you could get some former employees of Banker's Trust to write a special derivative for you like they did for Procter & Gamble.