I hope you had a great weekend, and welcome back. I'd like to thank all of our contest winners from Friday, and be sure to watch for new contests coming up very soon.
"The Case for a Housing Bottom in 2013-14" - does that stun you? How about the following analysis; "Bubbles tend to rise and fall in symmetry, meaning that a bubble that took seven years to reach its apex typically takes about the same period to time to retrace to its starting point.". These are just a few of the points mentioned in an article on DailyFinance.com by Charles Hugh Smith. The article is worth a read, and for those who own multiple properties, take something for your stomach acid before reading the article.
On a similar note, there are some important housing numbers being released this week:
Tue 9/21 - Loan Performance Housing Price Index (MORE INFO HERE)
Tue 9/21 - New Residential Construction (MORE INFO HERE)
Wed 9/22 - FHFA House Price Index (MORE INFO HERE)
Thu 9/23 - NAR Existing Home Sales (MORE INFO HERE)
Fri 9/24 - New Residential Sales (MORE INFO HERE)
It's worth it to take a look at these numbers as they come out. There are a million theories out there regarding the economy and the housing market. Is the sky falling? Well, for a lot of folks, it already has.
I like to look at it as follows: The "Chicken Little" is someone who runs around claiming that the sky will fall, the "Optimist" is one who has the intestinal fortitude and cash reserves to stay the course and stay positive. The remainder are those who have lost their jobs and their homes. It is a sad mix, with a disproportionate amount of people falling into the remainder category.
You know what? We are a strong country that has been through many hardships before. With a little optimism in the darkest days, the days of prosperity will return...they just have to. Everyone knows this. The questions is..."WHEN?".
Stay Strong !
Have a Great Week, and Happy Rent-to-Owning !!
