Have we Gone Into a Buyers Market? How Will a Recession Affect the Real Estate Market - Market Tuesday EP_8
The John Papaloni Show
English - May 31, 2022 13:14 - 5 minutes - 5.4 MBBusiness Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Have we Gone Into a Buyers Market? How Will a Recession Affect the Real Estate Market - Market Tuesday EP_8
There have been many speculations out there about the real estate market, is the market crashing, have we gone into a buyers market, is now a good time to buy, is now the time to sell, what should we do, is a recession going to cost us our homes.
The truth of the matter is that the media gains followers, viewers, listeners through what we call fear mongering and we have to take what they say with a grain of salt. I am not saying they're always lying, they're "Fake News Media" I am just saying that exaggeration is how they get more attention. There's definitely something happening in the market, there's no denying that regardless of what you hear.
Will there be a Crash? Will It Become a Buyers Market? Will the Homes Go Up in Value? The truth there is that nobody has a crystal ball that can definitely tell you to a certainty what will happen. Data, Statistics and Market Trends will show that NO it will not be a "Crash" but the 25% or 15% a year increase is definitely not on the radar and yes there is a Correction, but that's simply what it is a CORRECTION to adjust to where the Market was suppose to be to begin with.
I have said this before and will say it again, stop looking at real estate as a fast cash grab or easy flipping environment and realize what it is, which is something that you invest in for a long time, like 10 years long. If you take past performance, real estate has doubled every 10 years and it's not been straight up there's been fluctuations.
Should you be waiting to buy or buying now? My answer is always the same, buy when you can afford to buy, if you are going to be in Financial Ruin or Hardship to buy a property then it's not the right time for you. If you can buy and still have a relatively comfortable or sustainable lifestyle then nows as good a time as any, just remember you are buying for the long haul not for the short term.