We sold our house 6 weeks ago or so ago (significant cash out) and moved across the country, and we decided to rent for a bit and gamble that the market would collapse more. But we hate renting and we are already capitulating and putting an offer on a house we found and love. Even with our cash the mortgage will be about the same as before, due to the interest rates. So now we will be gambling that the interest rates will not continue up for long, and that they will decrease below their current level within a couple years. It feels wrong from an investment perspective, but it feels right from a life decision perspective, and it feels right from a security perspective (owning a place we can secure, and where we can grow a garden, etc.), and in the event of a currency crisis it would be bad to be super long cash. Side note: we don't have kids or pets, so it's just my wife and me; and we both have family nearby.
What would you do? And why?
Part of it is impatience, for sure. Part of it is us being afraid that we are going to wait and then the market is not actually going to crash, since everybody seems to think it is going to, just like in 2015. And then part of it is us being afraid that we are going to be in a rental with no good ability to produce food when SHTF (not to mention a lot of our food and other survival gear is in storage, which, depending on the kind of SHTF, could be inaccessible).
[now going back to pulling my hair out]
Yeah, some places have gone dry already.