Real Estate Panic – A Great Time to Buy

I was watching CNN money report and this guy from Formula Capital starting talking about stock investing. James Altucher is the managing director and he talked about how the big investor like Warren Buffett are thrilled when we all panic sell. That’s when the Buffett’s of the World do panic buying and make lots of money. It’s a psychological game we fall into and panic sell as soon as the market gets bad. So Mr. Altucher says that’s when we should buy too when their is a panic. I was just thinking how true this is in real estate too. This is the time to buy when there is a panic on and you get the Warren Buffett pricing. Don’t follow the herd and hold off from buying because it might housing might go lower. We all have to have shelter and we are going to pay either rent or a mortgage. Right now in Phoenix you can buy for less than you can rent.