Some good points in the article, especially for a rah-rah real estate brokerage meeting.
Talking potential buyers to get off the sidelines and jump into a home purchase, no matter the price, no matter the interest rate just isn't safe. That's what realtors have been doing for many years and part of why we are in this predicament today.
Can we blame potential home buyers for not wanting to carry the staggering debt load of purchasing a home at today's market price? Have you seen the price for a new pickup truck or Jeep these days? Well over $100,000! In some cases, up to $135,000. Should we blame the falling car sales market on people sitting on the sidelines?
Granted, one asset goes up in value the other goes down. But the debt load is the same. What does Warren Buffet do? The world’s 10th wealthiest person continues to live in the same house he bought in 1958. He drives a 2014 Cadillac, not a new one. Jeff Bezos drives a Honda Accord. Some financial lessons there.
How interested are people in buying a McDonalds Happy Meal today with wages up to $20/hr? Or any day...
It's not just side-lining. It's also trying to qualify buyers for higher loan amounts at higher interest rates.
Here's an interesting layman's explanation of inflation vs deflation in today's spending especially in the housing market, just as a counterpoint.
http://youtu.be/GMN8fRGCHA0?si=UCynTaozugohOBkg
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