One of the fears of real estate is FOMO, especially if you live in a desirable metro area. Is there a way to tie wealth to the real estate so you don't "miss out"?
For instance, let's say I live in San Francisco. I could bend-over-backwards to buy a property (e.g. loans, family contributions, dramatically reduce lifestyle expenses, buy a suboptimal house for cheaper, etc) or I could wait a few years until I save more. My fear is that if I wait a few years, the housing market growth will dramatically outpace my savings or raises, so I feel compelled to buy now. However, is there an asset class I can buy that indexes the San Francisco bay area so that I can wait a few years, but reduce the risk the real estate market blows up? Basically an index fund for local real estate prices.
I looked into REITs on Fundrise, but it seems too specific to exact properties as opposed to indexing the entire local market. And if so, anyone have ticket symbol recommendations?
Submitted August 02, 2021 at 10:13AM by Feisty-Inflation5 https://ift.tt/3ypc82A
