Good News in the Real Estate Apocalypse
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In a commentary in the recent Realtor® Magazine entitled: "Inflation on the Horizon?," Dennis Torres shares his assessment of the real estate market. He uses the Four Horsemen analogy (from the Book of Revelation in the Bible) to talk about where we've been, where we are presently and where we're going next in the current cycle. According to Torres, the ride of the first horsemen has already taken place in "the collapse of the subprime loan market followed by the losses in the prime mortgage market." He goes on to say the next two horsemen (who are currently in full gallop) are "high unemployment and burdensome consumer debt." And the final horsemen (that will inevitably climb in the saddle) is the "rampant inflation" to come. Torres points out, "Our government cannot print trillions of dollars to pay for wars and various industry bailouts without devaluing the worth of the dollar." So what does it all mean for real estate? Torres recognizes this silver lining: "In times of inflation, the price of durable goods such as housing rises dramatically. But this will benefit the market, too. While high home prices may deter some buyers, others will rush to purchase at a time when prices are appreciating. And home owners will be happy to see the value of their home go up." And so that's some good news for real estate professionals. Torres doesn't see this better side of the real estate apocalypse happening too quickly, but he still encourages those agents "who have a good attitude and are willing to adapt their skills" will manage well. (Picture above from wikipedia.org)
Labels: apocalypse, bible, calaveras county, good news, mother lode, real estate, real estate lake tulloch, revelation, sonora, sonora real estate, tips, twain harte, twain harte real estate
1 Comments:
If a good real estate agent can help grease the wheels and get your offer in front of a lender, you can get an answer more quickly, and potentially close more deals.
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