The business media and many stock analysts spend an enormous amount of time discussing whether the market is headed for a downturn. However, if you think the market will rebound, as it has in the past, it’s sort of a waste of time to talk about an upcoming correction of 5%, 10% or even 15%.

When I say that, I’m not saying be selfish. I’m saying don’t live life to impress others. So many people really live their lives for other people. They focus very hard on succeeding at goals that will impress others. They could be monetary goals, sports performance goals and even intellectual goals.

There can be societal benefits to that mentality. It encourages people to try harder and do more to succeed. That can be a big plus for society, but it isn’t always a winning strategy for an individual.

We get this question a lot. Obviously, a lot depends on your personal circumstances. But, given how high home prices are now, should you wait for prices to go down?

To answer that, we should look at why house prices are up: 1) a buying frenzy caused by the Covid pandemic and 2) record low mortgage rates – fixed rate 30-year mortgages have at times fallen under 3%.

With inflation coming in at an annualized rate of 10% in April, there is fear among some investors that inflation will push up interest rates. Not a chance. Maybe a little increase, but not a lot. The Fed may talk about raising rates, but it won’t do anything big.