Good discussion, Lauren. The housing market, especially in sun belt cities like Austin, has been driven by job and population growth. While the appreciate rate is unsustainable, I don't believe it is a bubble that will pop like Las Vegas did in 2008. Just not enough speculators buying up homes. Appreciation rates will likely slow down to more normal levels, but housing prices will continue to rise as long as more people and good paying jobs move to Austin and similar cities. I'm not buying now because I've changed my wealth strategy, but I'm certainly planning on holding as many houses as I can for as long as I can. I continue to believe that Austin real estate will do well over the long term, meaning that buying now is likely a good idea if you plan to buy. I don't think waiting will get you much better pricing. Of course, I always recommend people look at a lot of properties and find a good deal. Even in hot markets, it is possible to buy properties for less than market value, just harder.