<prompt> Human: Pretty much exactly what you think. Does the advice about not trying to time the market apply to real estate? Theres a boom in my area right now. Its a sellers market and houses are going for well above asking. I want to buy a home, but it seems like a terrible time to do so. Id rather wait for a downturn in the market, but am I foolish to think thats a good idea?Edit: as most of you suspected, yes, this is for my primary residence and I plan to live in it for at least 5-10 years. I am currently renting.  <response>: Buying a house shouldnt be considered an investment unless thats your job. It all comes down to how much you are willing to pay and how long you are willing to wait. I dont feel like there is a correct decision to be made; theres just your decision. It sounds like you arent willing to pay the current prices so that means youre going to have to wait. 