For years the Orange County Register was forecasting a bursting of the housing bubble when real estate prices were going up and the market was strong. As in any economic cycle they were bound to be right at some point and the economy fell into recession taking the housing market with it. That was two years ago and not much has been heard from the real estate reporters as the paper has downsized and other news has taken the headlines. All of a sudden over the last few weeks I have noticed several positive articles about the real estate market in Orange County. I saw this same type media turnaround in October of 1997 when the then sluggish real estate market started it's rebound.
How Does This Affect Us As Realtors?
I have stated before that the media has a huge influence on how people view the housing market. Lets all face it, low interest rates, affordable home prices, lack of inventory, tax credits, and now positive media articles are laying the groundwork for a housing recovery. The only thing missing is a turnaround in the employment numbers. The employment numbers will improve and as they do so will housing. So get ready and ramp up your activity. The housing market is set for a strong recovery.
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