To Find the Bottom Look Up!
If you read about the real estate industry like I do, you can’t help but wonder what all these so-called analysts are talking about when they write about where the “bottom” will be (see “Where housing will bounce back and when,” “NAR Forecast Reveals A Wee Bit Of Gloom” and “How low can housing go? Buyers hope a lot“). Just like any smart stock market investor will tell you, it is impossible to “time” the market. An intelligent real estate investor will tell you that it is also equally impossible to gauge the “bottom” in the real estate market because there is no one singular market Sure, your local market is affected by conditions in the greater economy but while the fundamentals of each market are relatively the same, each market is unique.
The important point to remember when reading these articles is that while finding the “bottom” is impossible, it’s also completely irrelevant to a smart real estate investor. Real estate is not stock. A smart, long term investor would never consider making a real estate investment and then immediately unload it like some so-called stock investors. That’s not how wealth is created in this industry. It is created over time and through the power of smart leverage. The moral of the story is that a professional real estate investor can create wealth in any market if their investment horizon is long term, they understand their market’s fundamentals and they wisely use the power of other people’s money. So stop looking for the bottom and starting creating some wealth!
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