I remember being in school and of course always getting A's on verything that I did (not) (oops a correction). Then when I got that rare B+ my eyes focused solely on the correction the teacher made. I was a bad girl who did something bad.
Why do we always see corrections as bad? Everything needs to be corrected, adjusted, tweaked to work better! That includes the housing market. In my area - South Eastern Massachusetts - home prices far exceeded affordability for a long while. Along came those mortgage "solutions" that made it seem affordable making the homes escalate in value further. BANG!! CRASH!! CORRECTION! That is all this is. Home prices HAD to correct. They had to become more in line with affordability. Once the line between price and affordability intersects again we will be at the correct price. Yes the correct price. Is that happening a bad thing? I don't think so.
The newspeople are gossip mongers trying to just earn revenue. Factual reporting or looking at the glass as half full is not going to earn them money.
So it isleft on us to dispel the negative words that are being thrust at our faces! To correct is a good thing! It makes everything work better. It allows people who would not have been able to afford a home 3 years ago or 2 years ago or even last year now able to purchase one. That's a good thing! A lot of affordable inventory, how can that be bad?
Bobbie Files
South Eastern Massachusetts Real Estate
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