When it comes to real estate, there are generally two types of people. There are those already in the market who are praying the market will continue to rise, and there are those outside the market hoping it will crash so they can afford to get in.
The interesting thing about rising real estate prices is it actually works against the majority of people until they are at the point of downsizing.
What do I mean by this?
Well let’s take a look at your standard millennial family, husband, wife, two dogs and a cat.
The vast majority of our generation start out by purchasing a home they can afford, but it’s not going to be there forever home. It’s a stepping stone to their bigger house.