Sellers are Finally Getting It...
This was the quote by a member of the National Assocation of Realtors. Well, wow, this was exactly what we were expecting, weren't we? Well I was.
For the last few years real estate has been soaring like a boy's attention span to a new Mario videogame. And while I am a stock market investor and trader, I just sat back and watched people who had no experience, no knowledge, and no appreciation for hard work, rack in hundreds of thousands of dollars, basically, over night.
And now, existing home prices are plunging, inventory is increasing, and housing looks like its slowing down.
About damn time. Things like this affect the stock market in a big way. When things get beyond ratinonal thinking, nothing good can ever result. We saw something similar in the stock market in early 2000 with the dot com craziness. And let me tell you this, even though the rush of doubling, no, TRIPLING money over night was a great feeling, the dramatic fall that resulted was nothing short of spectacular beyond belief as well.
With slow and steady comes rational, and thoughtfulness. This is unlike the current real estate market where people are basically seeing a dot-com phase in real estate pricing. And now that things are starting to cool, it would make sense to see the reverse happening, as things slowly fall back down to equilibrium.
Maybe if you were one of the millions who capitalized in this crazy hay-day, its time to start creating a strategy of how to capitalize on the fall.
Because it will happen.
The stats are there, just don't get stubborn.
And now, existing home prices are plunging, inventory is increasing, and housing looks like its slowing down.
About damn time. Things like this affect the stock market in a big way. When things get beyond ratinonal thinking, nothing good can ever result. We saw something similar in the stock market in early 2000 with the dot com craziness. And let me tell you this, even though the rush of doubling, no, TRIPLING money over night was a great feeling, the dramatic fall that resulted was nothing short of spectacular beyond belief as well.
With slow and steady comes rational, and thoughtfulness. This is unlike the current real estate market where people are basically seeing a dot-com phase in real estate pricing. And now that things are starting to cool, it would make sense to see the reverse happening, as things slowly fall back down to equilibrium.
Maybe if you were one of the millions who capitalized in this crazy hay-day, its time to start creating a strategy of how to capitalize on the fall.
Because it will happen.
The stats are there, just don't get stubborn.
posted by stockshaker at
12:38 PM
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