Should I rent or buy in a market where prices keep rising?
Home prices in my area have gone up a lot in the last few years and everyone says to buy now before they go even higher. But I'm worried about buying at the top and prices crashing. Is real estate always a good investment? How do I know if I'm buying at a bad time? Renting feels safer but everyone says it's wasted money.
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2 Answers
Read 'The Millionaire Next Door' and 'A Random Walk Down Wall Street.' Those two books taught me more about money than anything else. The library has them for free. Most people who look rich are actually drowning in debt — real wealth is quiet.
I made this exact mistake when I was younger and it cost me. Learn from others instead of learning the hard way. The personal finance section of any bookstore has dozens of books — they mostly say the same sensible things for a reason.
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