The market is falling, the prices of homes are dropping and people are losing thousands and hundreds of thousands of dollars each and every day in stocks and bonds. Will the real estate market ever rebound?
The simple answer is yes, but the when is the more difficult question to answer. The financial state of the economy is leading people into thoughts of recession and the pending Greater Depression. While some states and real estate areas are not affected as strongly by the fall of the financial sector, others are floundering and in need of great help.
The Presidential candidates both have differing views on how to deal with the real estate crisis. No matter their personal views, the November 4th election results will be the hinge to the future rise or fall of the real estate world. If the right candidate is elected, the DOW will rise and the economy will slowly work its way out of the hole. If the wrong candidate is chosen, the opposite will happen and the Greater Depression will be a reality.
Unfortunately for real estate agents, the right or wrong candidate is not in our hands. The majority will elect who they feel is right or wrong and as long as that person is placed in office, the world will inevitably rebound. However, if there is a close race, the financial, and thus real estate, markets will rebound much more slowly.
What Can a Real Estate Agent Do to Help?
Nothing. The economical world is falling fast and patience is the only solution. Until the new Presidential official is elected, the world will have to sit on the whims of fate and see where the DOW drops today.