History. Experts, Teachers and Professors agree: They say the more things change the more they stay the same. Contemplate this post written by Mark Hall of Keller Williams in Vancouver. Is this the year they will always be talking about when people discuss their Renton home and property purchases. It sure could be.
Remember The Real Estate Market In 2010? What a GREAT year!
As a boy growing up in Southern California, I remember my parents and their friends talking about major events in their lives. Many of them were baseball games that went into extra innings or big fish they caught. They also talked about business and investments.
One thing that sticks out in my mind is the fact that most of my parents' wealthy friends made their money in real estate related endeavors.
"Remember the real estate market in 1959? I bought that apartment building. What a bargain! I have made a mint on those apartments! Imagine if we had those prices now.""What about when I bought that big house in 1964? That was a steal! If I had more money, I would have bought 5 of them!"
They would laugh and tell stories about the deals where they made a bunch of money. The early 60's were a great time for real estate owners and investors in California. They told stories of their investing prowess but the reality is that they couldn't miss during those years.
Fast forward to the year 2020. What will the new generation armchair historians being saying about 2010? I predict that it will go something like this:
"Remember 2010? What a great year for real estate! The interest rates were low. The prices were low. There was a huge inventory of homes out there! How could you miss?"
So, sit back, close your eyes, and imagine that the year is 2020. What will you be saying about 2010?
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