Core Viewpoint - The article debunks three common misconceptions about the real estate market, emphasizing that market dynamics are more complex than simple binary views of rising or falling prices. Group 1: Misconceptions about Price Trends - Misconception 1: Real estate prices will only rise or fall. The market experiences cycles, similar to seasons, with examples from Japan and the U.S. showing significant price fluctuations over time [3][4]. - Misconception 2: An abundance of houses leads to falling prices. The article argues that the uniqueness and location of properties are more critical than sheer quantity, highlighting that "good houses" are scarce [4][5]. - Misconception 3: Inflation guarantees rising property prices. The relationship between inflation and real estate prices is not straightforward, as seen in various global examples where inflation did not lead to price increases [5][6]. Group 2: Practical Buying Advice - For personal use, the article suggests that individuals should buy based on personal needs such as marriage, children's education, and proximity to work, rather than market speculation [6]. - For investment, the focus should be on long-term rental returns rather than quick profits from price appreciation, emphasizing the reliability of cash flow over capital gains [6]. - Local market conditions should be prioritized over national trends, as real estate dynamics can vary significantly by location [6]. - Caution is advised regarding leverage; a mortgage payment exceeding 50% of income can lead to financial strain during market fluctuations [6].