Indeed the market is beginning to slow. We’ve spoken about it and it is now upon us. In my professional opinion this is a good thing. Yes, I’m almost always optimistic, but this is just part of the ebb and flow of any market. We’ve had a pretty solid, significant run. This will create buying opportunities for those who have been waiting. This will also put upwards pressure on rents. If you’ve been listening, and if you’re like me, you should be a landlord in fixed rate mortgages.
Nothing can go up forever. That said, we’re talking about a very finite resource in American soil in and around major metropolitan areas. The number of Americans who want to live in and around American cities is growing rapidly. The growth of “poor populations,” as described by the U.S. government, in suburban areas, far out paces their growth in metropolitan areas. American real estate will always come back strong given the desire to live in this amazing society that still offers more opportunity for independent, entrepreneurial success than any other country.
There is and will be a slowing down in the markets. Be prepared for it. Remember the words of Warren Buffet and be greedy when others are fearful. American real estate in and around major metropolitan areas is an amazing long-term hold. When you are ready to build a portfolio come see us at @networthrealty. We’re just an old fashioned business, with old fashioned deals.