“There’s no way to predict if housing is going up or down. So you need to get Death, Debt, or Divorce on your side. These are basically the ONLY ways you can guarantee you are getting a better deal than anyone else.  If every house in an area is going for $400,000 then you want to make sure you don’t pay more than $200-250,000.  That’s called ‘good investing’. Good investing is not about predicting  the future, it’s about getting a deal. This is an important concept no matter what you are investing in and it’s the concept everyone forgets. Don’t buy a house unless you are getting a deal, even if you’ve convinced yourself you will living there for 30 years.”

http://jamesaltucher.quora.com/You-Have-To-Use-This-Checklist-When-Buying-A-House

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