Yes.
Opinions differ, but I would do what insurance companies do and match the maturity of my assets with that of my liabilities. If I know, or think, I'll have a large expenditure to make in the next couple of years (like buying a house) I'd want to have assets with maturities no longer than the date when I think those expenditures will arise. If I'm actively house shopping and could pull the trigger anywhere between now and several years from now, holding your down payment money in cash is entirely appropriate.
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Retired early, traveling perpetually.
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