Case-Shiller, who I refer to often, gives us some insight into what is changing with the housing market. Over time, they have been following the largest metropolitan areas in order to watch what is happening and changing with the market. In October 2010, there were 10 major metropolitan cities that showed a decrease, but oddly enough there are still four metro cities that show a year over year gain: Los Angeles, San Diego, San Francisco, and Washington D.C.
This is good news, although it is just limited to one state, and for those of us who think that our businesses isn’t any better, think of it like this; we were on the upswing for so long I think we thought that we could do anything and not get hurt. Make sense? Life was good, brokers and realtors were living large, and now look where we are. Despite the frustration, we are still doing better than other states. What does that tell you? Did you know that a friend of mine that lives in Ohio told me that the city she lives in has whole streets in foreclosure? You can even Google the hardships of Dayton, Ohio. It’s not pretty, and with GM closing down and NCR closing down it is no surprise.
No matter what, choose to work hard, and keep up with what is happening. I love that I can do business in all fifty states, it’s a real blessing. It is hard to turn someone down, but the great part of my job is if I can help them get their life turned around in terms of credit, and hopefully give them advice on what they can change, to give them greater buying power in the future.
-Mayer Dallal
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