In 15 years of practicing real estate, I have never seen nor written as many leases as I have this past year. 3 out of 6 of my closings in the past two months have been leases. When houses are not moving because there is a saturation of inventory, this may be a viable solution for some home sellers. Conversely, on the buying side of things, some people have been pushed out of the homebuying market due to bad credit, job loss, and the upside- down Michigan economy. So, perhaps in the whole scheme of things, leasing out houses can be viewed as an adjustment or an attempt at balancing the housing market affected by the regional economy.
So, my question is..."what can we learn from this?" Real estate is tied to the health of the local economy. When the local economy is "sick" who's in charge of making it better? Certainly, let's not look to the politicians for any answers. They are in leadership positions, masquerading as luminaries. Industry leaders are bogged down in the management and survival of their companies through these changing times. The upheavals that we are witnessing today are currently impacting or will be touching each one of us.
Problems can create opportunities, though...if we just look at them from a different perspective. We, yes "we," can become the change agents or entrepreneurs in our local economies--with a whole new mindset. I'm going to put my thinking cap on. How about you?
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