Housing recovery has been going on for 30 months now, right?
By adamg - Wed, 07/01/2009 - 8:29am.
Somebody who pays way more attention to newspaper real-estate stories than I e-mailed me to note that real-estate trade groups have been proclaiming an end to plummeting housing prices and sales in Globe articles for 30 months now:
12/29/06: "Still, said David Wluka, the realtors association's president, signs that the market might be stabilizing are beginning to appear."
12/11/07: "Bucking conventional wisdom, a trade group for real estate agents yesterday said the battered housing market is on the verge of stabilizing and inched-up its outlook for 2007 and 2008 home sales."
6/30/09: "There is a clear trend home prices declines are moderating -- another sign the beleaguered housing market is stabilizing..."
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I think this might be an
I think this might be an important story. Someone should also look at Globe reporting on the market for the preceding decade or two.
Normally the Globe would be the best local people to do this kind of investigative reporting...
When was the last time...
...you listened to anything a real estate broker said?
Real estate agents have to
Real estate agents have to look up to see the belly of used car salesmen. Recession? Great time to buy. Inflation? Great time to buy.
Lifers versus Opportunists
Lifers are the ones who have been in the business through several recessions and downturns. They are the ones who are still around and out there, just running on reserve cash from the boom times and tighter household budgets.
You listen to them, and listen very carefully - especially when they start dumping large chunks of their own real estate portfolio, downsizing their houses, and stuffing all the money into federally insured liquid assets. They know how to weather the storm.
The opportunists are people who make extra money in a hot market, but don't know how to recognize or prepare for a down market.