Last story I had a question that I was not understanding properly.
My question is: Why would you want to buy in a buyers market? In my mind that would mean real estate is more scarce and therefore more expansive. Sellers have more leverage because they have more interested buyers and therefore can ask for more money. Am I wrong with that assumption?
I contacted Steve via mail and we had a little conversation. Steve Nelson explained to me that a buyers-market is when the market is in favor of the buyer, meaning that there are more sellers than there are buyers.
A sellers-market is the opposite, meaning that there are more buyers than there are sellers thus giving an advantage to the sellers, making it a seller's market.