This blog post from Richard Weisser points out that NOW is the time to grab hold of a good deal in Real Estate. I think Richard says it well and hope that my readers will benefit from his wise words.
I am NOT a young man. And I have experienced a lot in my life, and one thing that I know for certain is that everything is cyclical!
We had been experiencing a severe drought the last few years. Now it won't stop raining. It's the cyclical nature of weather, the dryer it is, the dryer it gets. And the wetter it is, the wetter it gets!
Economics are cyclical too. The stock market has enjoyed boom years and bust years. People have made millions of dollars and then lost them again as the cyclical nature of the market ran its normal course. It takes only time for the winds of the market to shift in a different direction.
And of course, the real estate market is cyclical too. I purchased a home in the 1980's that came replete with a mortgage at an astounding17.5% interest rate. The market ground to a halt as the restricted pool of buyers that could qualify for a loan at the rate competed for the limited funds that were available to lend. In time, the money supply grew and the market recovered.
So there isn't really any quick-fix for what ails the economy right now. But in time, true market forces will prevail against all of the counterproductive Keynesian efforts to accelerate the process.
The net result is that a lot of buyers are getting some bargains right now. But these low prices combined with low interest rates won't last forever, It's the cyclical nature of things.
And those that seize the opportunity now will be sitting pretty!
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Very good blog and I too am not a young man and cycles of life I understand.
Hi Paddy! Great post for a re-blog--and I'm glad you did because I missed the original! I'm with Tim--been through those cycles and just have to stand tall and go with the flow! I agree that the deals that people are getting now are nicely packaged with the incredible interest rates. You just can't beat this time to buy!
Have a great week...
We will always be cycling Tim. It is important to remember that and to let buyers and sellers know that it happens
Glad you caught it this time Debe. I actually scrolled down one on Richards Blog to find it. He does such great work. Have a great fall!