Buying a House With 20/20 Hindsight
By Bryan Caplan
Knowing what you now know, suppose that you could pick one year between 1987 and 2010 to buy a house in the U.S. The catch: It’s a one-time deal, and you have to hold the house until 2010. When you’re not in real estate, you get the T-bill rate instead.
Do you buy at all? If so, when?
Once you’ve got your answer, take a look at Sumner’s graph, and see if you’ve got second thoughts.
My answer’s in the comments.