I just read a fantastic little insight into the state of real estate. What If The Real Estate Market Doesn’t Recover?
I’ve been arguing a bit with you guys on Facebook and ActiveRain about whether we’ve seen a bottom in real estate or not. The general consensus amongst Realtors seems to be that ‘09 will be a comeback year for real estate. It’s important to me to not position myself as the expert here. I’m not an economist. I’m a Realtor, blogger and internet marketer. That does not qualify me as an expert on finance the last time I checked. I do, however, have many questions that I feel are worth being asked, and so far no one has offered an answer that puts me at ease.
My question for today is “Why?” If you think the real estate market is coming back in ‘09, you must have a reason! Do you think the stimulus plan will work? Do you think Obama has something up his sleeve that will bring things around? I’m all for a discussion on the matter. For now, what Richard Warren says in this article makes a lot of sense to me. We just might be at the front end of a slump in real estate that lasts for decades.
Noteworthy is the following: Richard, like me, also sees opportunity to make money in real estate. He is simply acknowledging that the rules have changed and playing by the old rules is financial suicide. It’s business as usual for most Realtors around the US, and I think that’s a grave mistake. As always, I remain willing to eat my words if someone can show me how the market will turn around! Until then, I’m building my business as if there is no recovery in sight.
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