Recession...

Recession…

  I just finished reading an article in CNN Money concerning the growth that has been occurring in various markets. It begs the question are we heading back to the Great Recession of 2008? I’m all for sellers making money when they sell their greatest asset but it is getting out of hand and more and more people are realizing it. With the acceleration of sale prices buyer’s who can afford them have to put more money into the transaction. This way they put down more money to get their loan balance at an acceptable level. But how many people can do/afford this? What about the VA buyer who buys with nothing down.

  These are the types of questions that I ponder as I go about my day. I survived (as well as other) realtors in 2008 but there were many who left the business because they were not prepared. It was a struggle but I made it. There were many homeowners who lost their homes (in the same time period) and I wonder if/when it happens again how many more will follow suit. There is a breaking point where we cannot sustain the growth of what we are seeing and sad to say it will implode again. Honestly I’d prefer NOT to see that again. Yes this coming from a professional realtor that is really how I feel. I am approaching 33 years selling in the West Michigan market and I know I have at least another 10 left in me. I do know that real estate is cyclical. It has it’s ups and downs but it need not have such sharp inclines or declines. It needs to stay as steady and smooth as possible. I also believe it’s the safest place to keep your money AND make your money. If you have a moment please take the opportunity to read the attached article.

https://money.cnn.com/2018/08/01/investing/markets-now-lindsey-piegza/index.html