Billy Yerman: Don't try to time the housing market
Predicting when the bottom of the real estate bust will arrive has been the parlor game of the last half-decade. Some would-be buyers are holding off with the idea of catching lower prices later, while some would-be sellers are waiting in hopes of better times down the road.
Now comes today's guest poster, real estate attorney and broker Billy Yerman, with an argument about when to buy and sell that will be sure to fire up debate.
He's chief executive of the Baltimore-based Strata Group, parent company of real estate businesses such as the Yerman Witman Gaines & Conklin real estate brokerage. He's been in real estate for 22 years.
Take it away, Billy:
It’s more or less accepted wisdom that it’s not a good idea to “time” the stock market. Most professional investment advisers warn against a strategy of betting on spikes in stock prices in the short term (versus a long-term “buy and hold” strategy), for the simple reason that the markets are too complex to predict accurately in the near term. Of course, that doesn’t stop a lot of people from trying to do just that, with varying results.