This is a traditional time of year to talk about a message of hope. Some of us in the real estate business may have to look a little harder this year. It is there. I found a message of hope in a most unlikely place. My wife likes to go to these investment “seminars” where the speaker feeds you in order to get you to come.
The one we went to last week was especially bad. The woman used very bad English, she was long winded. The food did not come until after the speech. The message was one of gloom and doom. She talked about low yield, extremely high inflation, real estate in the toilet, stocks unpredictable, and herself as the savior. I was depressed just by having to go. It got worse as the night went on. That negative message spoiled my appetite and my attitude.
It wasn’t until yesterday morning that the good news hit me. The real estate industry is in pain right now because of too much inventory and too little money. People still like to sleep inside; so our market will not totally go away. The real estate assets, if we can just hang on, will have to increase in value some day. Hyper-inflation will help this some. Hyper-inflation will also reduce the relative value of debt. Hallelujah.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com/ His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
Tuesday, December 22, 2009
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