Home > Blogs > John Walters > John's Real Estate Blog and Other Stuff

Market Forces

By John Walters

Real Estate Agent with Frank Rubi Real Estate

July 16, 2008 04:37 AM

This is what happens when Congress stays out of free markets. It takes time. It doesn't happen over night. The tipping point for gas was four dollars. I think this is the same for home prices. They escalated to fast to soon. People can only buy what they can afford. We will recover and be as strong as ever. May be a couple of more years but be ready when it does.

Comments(6)

Comment

Show All Comments

Sort:

Randy L. Prothero

eXp Realty - Hollister, MO

Missouri REALTOR, (808) 384-5645

Congress has not stayed out completely. They have created many of the problems. A big factor on gas is taxes and regulation. If we had drilled more, refined more and developed alternatives we could be energy independant. Most of that has been restricted.

Jul 16, 2008 04:54 AM

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi John. My concern is what does "recover" mean. I hear lots of would be sellers waiting for the market to recover. If they are waiting for the boom years of 2002-2006 they may wait a long time.

Ken

Jul 16, 2008 05:08 AM

R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

Bank of England (NMLS#418481) - Raleigh, NC

Bob Mitchell (NMLS#1046286)

John: The drop in oil that we are experiencing right now is just big oil taking their foot off of the consumer's throat! As soon as we've caught our breath, they will be back at it! MARK MY WORDS!

Bob Mitchell

ValueList Real Estate Services, Inc.

Jul 16, 2008 07:33 AM

Frank Rubi

Frank Rubi Real Estate, LLC - Metairie, LA

FrankRubiRealEstate.com

John, I think in addition to hands free government, there is an issue no one seems to memtion. The strategic oil supply. We have a 100 year stock pile. What would happen if they open that supply line and reduce it to 50 years? So government is in it still and messing things up.

Jul 16, 2008 11:04 AM

Jeremy Blanton

Myrtle Beach Homes Blog - Myrtle Beach, SC

Myrtle Beach REALTOR®- myrtlebeachhomesblog.com

John, luckily our gas hasn't hit the $4 mark yet...it is only averaged at 3.90!

Jul 18, 2008 02:42 PM

Chuck Willman

Chuck Willman - Alpine, UT

NewHouseUtah.com

At the peak of all these market pressures the turnarounds come. It will be fun when we get past the edge of a few of these things- then the runs can return.

Jul 19, 2008 09:42 AM