Updated about 5 hours ago on . Most recent reply
Andrew Ross Sorkin "there will be a crash..."
I just watched Larry Fink and Andrew Ross Sorkin speak on 60 Minutes and they both gave warnings that yes a market crash in the economy is on the horizon. Larry Fink of all people from BlackRock. This is scary.
I'm not trying to fear monger but I think it's scary for a lot of agents or investors stuck in 2020, thinking that "oh if only the rates go down."
This is a much bigger issue than just rates. It comes down to affordability of life altogether.
What does it matter if the rates go down to even 3% again, if people still can't afford the down payment?
This year investors bought 1/3 of all single family homes.
So the great news is if you position yourself as an investor friendly agent, you shouldn't have to worry about staying active.
Do you remember how 2012 went down? The most active buyers were investors. Investors thrive in down markets.
And they'll continue to thrive in the next crash and aren't afraid emotionally. They just take action.
Even though Andrew Ross Sorkin was mainly speaking about the stock market, still.
This is where most are depending on retirement with. It does matter in terms of real estate.
It's unfortunately because those struggling financially will only struggle harder if they do nothing to change their situation.
But those of us who adapt the quickest and prepare NOW and do not slow down will be just fine.
