I found this blog to be "spot on" when put in the perspective of this market. Nothing lasts forever, including this market. There are many opportunities in this market for buyers.
I am NOT a young man. And I have experienced a lot in my life, and one thing that I know for certain is that everything is cyclical!
We had been experiencing a severe drought the last few years. Now it won't stop raining. It's the cyclical nature of weather, the dryer it is, the dryer it gets. And the wetter it is, the wetter it gets!
Economics are cyclical too. The stock market has enjoyed boom years and bust years. People have made millions of dollars and then lost them again as the cyclical nature of the market ran its normal course. It takes only time for the winds of the market to shift in a different direction.
And of course, the real estate market is cyclical too. I purchased a home in the 1980's that came replete with a mortgage at an astounding17.5% interest rate. The market ground to a halt as the restricted pool of buyers that could qualify for a loan at the rate competed for the limited funds that were available to lend. In time, the money supply grew and the market recovered.
So there isn't really any quick-fix for what ails the economy right now. But in time, true market forces will prevail against all of the counterproductive Keynesian efforts to accelerate the process.
The net result is that a lot of buyers are getting some bargains right now. But these low prices combined with low interest rates won't last forever, It's the cyclical nature of things.
And those that seize the opportunity now will be sitting pretty!
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About the author: I am full-time REALTOR® with RE/MAX Solutions in Springfield, MO, and a member of the Greater Springfield Board of REALTORS®. I have helped hundreds of families in the Springfield, Nixa, Republic and Ozark real estate markets, whether buying a home, or selling a home. Visit my website to search for All Springfield MO Area MLS listings. Want to know what our market is like? My website is also an excellent resource for current Springfield MO Area Real Estate Market Reports, as well as current market reports for Ozark, Nixa, Republic, and Rogersville.