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What is it about our society, or perhaps that of the entire human race, that would have us constantly believing the sky is falling? The media, politicians and policy-makers would better serve the American public if they were a little more optimistic. And honestly, this is a time for optimism, although you’d never know it from all the garbage we’re fed on a daily basis.
We’re going to talk about that here from time to time. I’m watching the housing market, locally and nationally, on a daily basis. I’m paying attention to some of the most credible economic advisors available. I speak with an awful lot of people, from all walks of life. I ask their opinions and I listen to what they have to say. I have heard their pessimism and to be honest, it’s really making life difficult for me!
What do you mean by that?!
I work with dreams. The kind of dreams we all have at some time in our life. A marriage. A baby. A new job, maybe a change of scenery. An investment or a new business opportunity. Everyone is walking along a similar path, and they’re asking me, “How can we do this now? Now, the way things are? We don’t know what’s going to happen next, we better wait until things settle down!” And the dream is put on hold, or, worse still, it comes to an end. Because it’s hard to make your dreams come true when you believe the cards are stacked against you.
So, for the time being, let’s forget about dreams. Let’s focus on reality instead. For instance, we keep hearing about home values dropping. The so-called “bubble”, and the “crash”; now is certainly not a good time! But, without getting too far into the weeds here, let’s take a closer look.
Let’s get real.
There is no “bubble”, there is not going to be a “crash.” It’s not 2008, not even close. The last two years, home prices hit record highs. And it’s true that in some markets they’ve reversed, but these are places where appreciation skyrocketed. Let’s be honest, considering the meteoric rise in value they experienced, these sellers can take a little loss in stride!
Everywhere else the low inventory of homes on the market has contributed to rising prices. Good news for sellers, but it means buyers still have to contend with this. It can be a bit daunting for first-timers, but it beats renting. If you can get into the game (and lenders, as well as good old Uncle Sam, are doing all they can to help you do just that) you’ll see the value of your investment grow. Don’t feel too bad for your landlord, he’ll find someone else to pay off his mortgage.
Does this mean I can dream again?
Yes! We can get into the details and your available options anytime you like. And you might be quite surprised to see how it can all come together. But first, we dream…
