Buying a Home: Is Now a Good Time?

Not Following the Herd

Be fearful when others are confident and confident when others are fearful.

--Warren Buffett

Of all Buffett's quotes, the one above might be the most popular; it's certainly the most cited the last 2-3 years (and was quoted frequently by Ben Stein at Edina's annual meeting Wednesday).

So, is now a good time to buy a home?

No one really knows for sure.

Instead, ask yourself: 'is the prevailing mood more optimistic or pessimistic?

That one, at least, is an easier call.

As every investor, from Buffett to Ben Graham to George Soros on down knows, there are more and better investing opportunities in a cautious, "cool" market than a hot one (unless you're shorting).