I have shared with you that I don’t believe we have a serious real estate problem; we have a banking problem. This week has certainly confirmed that. These are turbulent times indeed and nobody has a crystal ball. However…the world’s greatest investor just bought $5B of Goldman Sachs stock and several $B GE shares – which is why he is the world’s greatest. He is buying when everyone is bailing.
How this whole government bailout program works out is anybody’s guess but I do know this; people keep having babies, folks are living longer and economics is based on supply and demand. As time goes by excess inventory will be picked up, prices will continue to stabilize and the market will find a new normal. Even now in the Stark County market activity is increasing as we realize there are some very good values available.
Real Estate is local. Inventories are moving down as we see a couple months of consistant sales. These are good signs for our market. Stay tuned for additional updates, trends and opportunities.
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