From the course: Economics for Everyone: Housing Markets in Crisis

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Last resorts

Last resorts

From the course: Economics for Everyone: Housing Markets in Crisis

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Last resorts

“

- The best advice for investing, is true across all markets. And that is, buy low and sell high. It's true whether you're investing in equity markets, commodities or housing. You want to make sure that when you buy, you're buying low, and when you sell, you're not selling when a market's in free fall. This means in housing crisis, when home prices may be falling rapidly, that's not a time you want to be looking to sell, if you can avoid it. Now, obviously there are going to be times when you might be in a housing crisis, and you might need to sell your home, but this really should be the last resort. If you can do anything else, refinance your mortgage, find some other way to access capital, to keep making your monthly payments, doing anything else other than selling your home, is a great idea. Because you don't want to sell when the market's down, because at some point that market will recover and it will cost you a…

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