If you’ve been reading the latest news headlines or catching the current financial news reports on television you may be falling for the hype about the doom and gloom surrounding real estate.
Real estate has tanked, according to the media, therefore no longer the investment vehicle of choice. That all depends on how you look at it. My point of view from the ground up is I see something entirely different from the media reporting the news from their cozy glass buildings.
Most such reports are directed at the passive investor looking for a safe place to park their money for maximum returns. Much to the contrary, savvy real estate entrepreneurs will make money regardless of economic cycles, interest rate hikes, recession, unemployment trends or ups and downs of the real estate market itself.
Today’s real estate sales have indeed slowed its pace from even a year ago in many of the once scorching hot markets around the country. There’s been reported nearly three times the inventory available for sale than a year ago.
What doesn’t receive much attention is the fact there are still many qualified buyers, money in hand, on the hunt for properties to purchase. Sure the inching up of interest rates has forced many retail buyers to spend their money more wisely. But, when you factor in the adjusted prices which have and seem to be on a continued slump downhill for now, it all balances out as far as how far a buyer’s money will go.
Tuesday, August 08, 2006
Is Real Estate Boom or Bust? Who Really Cares? Part 1 of 4
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