The Magic Pill For A Real Estate Recovery

Real Estate Agent with Keller Williams Realty

Real Estate RecoveryEveryone seems to be waiting on the magic pill for an American real estate recovery. Where is it? What is it? Will it come from a specific sector or maybe a specific geographical location? And what exactly will the industry look like when it is "fully recovered", and who gets to determine if it has recovered? When I listen to the news or read articles in various media about the housing recovery, it seems that I get a different perspective from each one. Nobody is on the same page and everybody has a different idea as to what it will take to make the recovery happen. So, here is another opinion to throw into the mix.

Stop looking for a magic pill that will instantly cure the problem because there isn't one. In a society that is increasingly dependent upon speed and quick fixes, we have got to face the reality that the only thing that is going to get real estate back to where it was at 6 years ago is time. It took several years for the bubble build and burst and it will take just as long or longer for the market to make a full recovery.

Why can't we just say what we see? Here is what I see. In the major markets nationwide, prices are rising and inventories are dropping drastically. The shadow inventory is disappearing due to programs to help underwater homeowners refinance, though not enough can qualify. New home construction just posted its largest increase EVER! And some builders are recording record profits. I would say that we are smack dab in the middle of a real estate recovery. Alright, maybe not the middle, but it's happening.

There is no magic pill that will create a recovery for the real estate industry but we could at least all get on the same page and stop the pessimism.

Comments (1)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Chris - Thank you for sharing detailed quality information about the magic pill for a real estate recovery.

Sep 27, 2012 06:39 AM