Housing recovery is setting a strong pace but sometimes even I, a seasoned professioal, get wrapped up in the media blitz about the strong sellers market, multiple offers, low inventory....etc. While the market is much improved I do believe the most important piece, of job growth in the coutry, is still faltering.
The Fed has kept rates low because that supports the cornerstone industry of housing. However, the minute there was a whisper of a plan to slow down the purchase of mortgage backed securities it was a if a cat ran across the proverbial road, and buyers paused in their pursuit of the American Dream. A week later the Fed did media damage control but I think the message was out there. Truly they are keeping rates artificially low to support the economy but at some point we will need to get the job market back on track for true economic growth.
For anyone who reads my posts on any of the various social media portals, you know I am positive in my mindset. But I am also realistic and I have survivied in my industry during very difficult times. I will continue to survive and thrive but I also need to open my eyes and be realistic about the market I am working in. I believe in the American Dream of homeownership but more importantly, I believe in the people of this country. When we put people back to work, then I will feel completely honest in saying the recovery is in full swing. We are doing much better than a few years ago....you can feel it when you walk down the street, people are hopeful. But I will remain cautious myself and protective of my clients who get wrapped up in the multiple offer frenzy....we have to be smart in our next steps and while hopeful, we must be aware.
OK, it's Monday, let's go out there and make something good happen.
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