Thread: Real Estate Market Downturn

With all the bad news in Wall St, many people will be losing their jobs. Real estate market has been down for so long, especially with our current financial crisis, how are you guys dealing with all this? Do you think we will see light at the end of the tunnel for property owner?

If the bailout is signed, the downturn is for next spring/summer IMO.
If not, banks (the remaining ones then) won't lend for home: Realtor, mortgage brokers, inspectors, appraisors will be out and losing their homes too and won't find another job (600,000 jobs loss every month for now)
If not, banks won't lend for cars: cars dealership will close and these people will lose their home.
If not, banks won't lend for study: less students with no jobs
If not, all these people won't be able to buy in store, therefore much more bankuptcy, not taking holidays (hotels and airlines industry bankrupt), not doing anything....
The worst, voting for McCain, who will probably die before term's end, making Palin bombing Russia, Pakistan and others, just to be in history, just to be at the end of human history...

I also think Obama's plan to raise capital gains tax will hurt the real estate sales.

And to forecast McCains death? Really harsh, the man is old but come on, do not discriminate against someone because of their age. But his choice of Palin was not the best IMHO. But why do you think she would start bombing anyone?

The future of the housing market is too complex too muddy up with politics. And politicians are what is wrong with the economy today. For too long, politicians have bickered because of which party they belonged to and accomplished nothing to benefit most Americans. Or they have not put the interests of the public before the interests of big business and lobbyists.

It is true something must be done with the credit crisis to help solve the problems with the economy. Maybe the politicians will finally think about the good of America and the average American before their rich buddies!

Originally Posted by markbrian

And to forecast McCains death? Really harsh, the man is old but come on, do not discriminate against someone because of their age. But his choice of Palin was not the best IMHO. But why do you think she would start bombing anyone?

I'm not discriminating. Far away from me that idea...
I think he's a bit pale and fragile...But I might be wrong...

Regarding Palin bombing, it's only her own words...
http://archives.lesoir.be/etats-unis...&all=115&nav=1

God forbid if something happen to Mccain, Do you think Palin is ready to be the president?

The question is about the economic uncertainity of today regarding the bank failures, credit issues and when do we see a possible recovery. Not about your political views or links to sites with quotes from one politician or another.

Politics and politicians are part of the problem. But the politicians are also the ones who will pass laws, etc to help cure this. But political bickering will not solve anything, it never has.

Forget about who said this or who did that. Focus on the problem and for once forget about your political view and think about America, and what is best for America and not your political party.

To answer the original question again: Recovery for property owners is hard to predict since their are so many variables. Nothing much good will happen until Washington does something that makes Wall St. feel reassured.

Originally Posted by fong47

God forbid if something happen to Mccain, Do you think Palin is ready to be the president?

I don't think so. Plus, she's very dangerous...

This is one of many reasons why having a secondary income source such as a network marketing business is becoming more than just a good idea. Furthermore, now that the bailout has been signed is this really going to help? I'm not so sure.

People are always going to have to move. Whether for a profit or loss, sellers will have to sell, and buyers will have to buy, and the majority of them aren't going to want to do it on their own. They'll need an expert to help them get it done.

We may need to adapt business models to accomodate a buyer's or a seller's market, but those of us who are able to adapt will thrive no matter what the market is like.

In fact, I look forward to seeing the exodus of agents who should not be in this industry anyway. Just like forest fires are nature's way of "thinning" forests, slow economies are how we can keep our industry standards high.

Who would have guessed this downturn would last so long and go so deep? The good news is that we have a window of opportunity here. Invest now and reap huge rewards. Invest in real estate. Begin a career in real estate. History teaches us that we will recover and most likely stronger than ever.