State of the Real Estate Market

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Real Estate Agent with RE/MAX of Lebanon County

What do you all think the problems with Fannie Mae, etc are going to do to this tenuous market?  Add to that the saber rattling in the Middle East and I think we are in for a rough ride for the foreseeable future.  Even though Iran cannot really get to us at home as they would like, the closing of the oil pipeline and shipping in the region would have a profound effect on the world energy prices.  I had a client call this morning to tell me that he is concerned about investing in properties because of the world tension.  My only response to him was that I personally would rather be in invested in real property than equities at a time when the economic situation is in shambles.  I am actually thinking of buying a few more rental properties myself.  If people will not be able to buy a home, they still need to live somewhere. 

What do you think?  I am looking for opinions not in depth analysis.  What will you say to your clients?  Where do you think we are going?  It is interesting, one day I am up on the market, the next day I am neutral and then out of the clear blue comes a week of bad news like we have been hearing about.  What is next?

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Comments (1)

Robert Huntsinger
Empire Realty - Upland, CA
Empire Realty Upland, CA - Full Service at a Discount

Paul,

Your right we are living the Chinese curse, may you live in interesting times.  I am with you, I am buying rentals knowing that no matter what happens to the world economies people need a place to live and regardless of what happens I will still own the home.

Take care!

RJH

Jul 15, 2008 02:29 AM