Well, that depends on where you are and who you ask. All across the world the housing market fluctuates. In the United States, in most cities, right now is a great time to buy a house because mortgage rates are low and so are prices.
In the UK, on the other hand, houses are said to be overvalued by as much as fifty percent. That doesn’t mean that they will drop by fifty percent, but only that they should come down in the coming months. How long you want to wait for them to come down is certainly up to you. The main reason they’re high is that there is a shortage compared with the demand for them. If that demand would lessen, there would be a drop in prices.
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