Elevator Pitches for Realtors “A Recession is when your neighbor loses their job. A Depression is when you lose yours.” –Anonymous Yeah, Yeah, when acquaintances ask, “How’s the market?,” they usually mean the overall market — not, how I’m doing personally. Still, it’s hard not to let your personal circumstances color your take on things...Read More
First Houses, Now Gold? What’s the best way to make an asset class appreciate? A. Increase its intrinsic value B. Limit supply C. Increase its liquidity D. Stimulate demand Answer: C. (credit also given for “D.”). Buried in a Wall Street Journal article last week (the good stuff always is) was this nugget: Whenever an asset gets...Read More
Low Interest Rates — Then & Now Three (four?) years into the housing market downturn, what conclusion is it possible to draw? In retrospect, it seems obvious (at least to me) that it was a liquidity-driven phenomenon. Add a tsunami of cash, subtract any vestige of underwriting standards, and real estate will go up. Subtract...Read More
