I originally posted this in the spring of 2012 which was a time when everyone still feared putting their money into real Estate. The long term patterns of real estate are fairly predictable, but people have a tendency to forget the other market and only think short term. Generally speaking, real estate requires long term thinking to benefit from it but people are generally too wrapped up in poorly presented news stories to not think of it as akin to day trading. Mr. Buffet clearly gets that. And of course, he was right as we now have the benefit of looking back at how things unfolded. The date has changed, but the lesson here has not regardless of what the next news story says.

The ever quoted Warren Buffet manages to make statements here that apply to a wide variety of real estate markets and they apply to Nanaimo real estate as well. What he’s saying here is not rocket science nor is it a new idea as I, among others, have been saying it for years. (It’s all over this blog, look around.) What is new, is that it is a measured, and informed idea that is finally getting some media attention instead of the stories that are hype and fear over data that the vast majority of reporters simply don’t have the background knowledge to interpret clearly.

Related posts:

http://www.movetonanaimo.com/market-update/

http://www.movetonanaimo.com/up-markets-and-down-markets-when-to-buy-and-sell-part-1/

Ryan Coffey