So it's been a while... Not that anybody's reading this blog but it's more of my little part of cyberspace (owned by Google naturally) where I can vent, share and do as I please anyway right? So I was reading this article on www.inman.com that talked about our economy and spending and it got me thinking about my own upbringing and how much I've seen the government and economics change over my lifetime. It makes practical sense to not spend more than you make right? Well it should at least, Steve Martin even figured that out on SNL one time, but there are so many of us in the world that will do what our leaders are showing us. If our government is spending out of control, then it gives us, its citizens, a skewed view of reality. That's not to say that people can't make their own decision or be responsible for their own actions, but when I hear my 6 year old say something that he shouldn't, I need only to look in the mirror to find out where he's getting it.
Now to relate this to Real Estate... with all of the regulations now in the finance world, it's almost impossible to buy something that you can't afford. In fact I was at a training several years ago by First Magnus, and no they're not around anymore, and they were saying in early '07 that regulations were tight and the pendulum had swung... They should see that pendulum now... I recently had a client who said they wanted to wait until prices dropped even more. My advice to her was that we are already in 2003 price range and anytime you buy in the next couple of years is a great time. She was falling into the scare of the economy that so many others are doing. The picture above shows the dilemma we are running into. The majority of us are scared to spend anything, but one thing you can be sure of is that this real estate market will come back up and anytime you buy in the next couple of years will be a great time to buy.
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