There’s a saying that goes something like, “Economists have predicted 9 of the last 2 recessions.”
I’ve been hearing about the real estate bubble popping any day now since at least 2013. How many people sat on the sidelines of a skyrocketing housing market waiting for that day, out of fear? How many have fallen into a doom and gloom cycle over the last few years hoping for some big “told-you-so” payoff that never came?
If you have a few decades of able working life ahead of you, capitalize on opportunities. Take risks. You’re not going to time the crash, whatever that means; and you’ll likely end up more resilient for it anyway.
> I’ve been hearing about the real estate bubble popping any day now since at least 2013.
That's the market timing problem. You look at the graph of median house price vs median family income, and you can see that at some point things will crack. But you can't tell when. Few people have shown success at market timing. James Dines, of the Dines Letter well known to investors, died last year at age 91. He was one of the very few people to have correctly called several recessions in advance, in his 70 years of publishing a newsletter.
