<prompt> Human: Hey guys - long time lurker. As the next recession draws ever closer, I am hoping to see a correction in the Toronto RE as prices are crazy. My questions is should I be holding hard cash and waiting to make a down pmt, when markets are down and start slipping? I dont want to be holding equity as it will decline as well when the RE prices start going down decrease the I have for the down - thats my thinking. Advice greatly appreciated!  <response>: You have no idea when the next recession will come, how severe it will be, or how much further stocks will go up beforehand. That said, money for short term goals like a house should be held in cash. 