People often want to weigh in on how they believe the market is doing when conversation turns to real estate. Seems like there are connections to a Realtor either by family or close friend that has an insight on what the crystal ball holds and is offering their service. So come on and lets hear your opinions.
If I was able to confidently say that the market was going to go up then logic would say to be a buyer. If the market is going down then be a seller. Right? Isn’t that what is always touted? Buy low – sell high!!! but what are the indicators that tell where the market is headed? Where does the average Joe find information? Is the an insider that is going to letting everyone know? OF COURSE NOT! why??? The reason that the average Joe isn’t going to know anything is those that know don’t want others to know because they will be competition. If someone really knew that information how much would you or anyone be willing to pay for it?
There are some ways to answer some of these questions and some are just a foil. I hope that there is enough reason or sense in the world to help you figure out which is which. The main clarification that isn’t blinking red lights in our face is the fact that we think we are always going to be the “LUCKY ONE.” Take the lottery for example and how the odds are stacked against people but they still shill out $$$ after more $$$. Casinos make a killing off this.
Why the rant then…well, nobody knows where the market is or where it is headed unless you are on the inside. Inside of what might you ask? The inside meaning the people that make laws and regulations – the ones that pick winners and losers. Yup, you guessed it. Political power and wealth are correlated more than is brought to light. Think of all the wealth politicians have and some of them didn’t start with much. Can you name any modern poor politician?
What does this mean? Just because a frog says he is a prince…
Make decisions on what you know not what someone thinks might be true. Be cautious about where your information derives.