Yeah, my "buy NOW!" guidance was directed at my first time buyer clients that wanted to buy, were qualified to buy, but were being very, very picky. I've got clients that could have bought a house with 80% of what they wanted, but passed multiple opportunities in order to find the PERFECT house. Which Does. Not. Exist. Now they will have to pay 3% points more on their loan, which adds about $1,000/month to the payment on a median priced home. Now they can't afford anything in their preferred area, unless it's a condo.

It's frustrating because I really do believe in the benefits of homeownership. Not only as a wealth building tool, but also emotionally, knowing that you own your own home. And it''s not because I'm a real estate agent. If you buy something you can afford - do NOT overspend for a house, ever! - then homeownership is the most consistent path to wealth creation.