What better solution could there be if this pumpkin of a current, stalled market, transformed into a bejewelled carriage on the way to a Ball of successful sales and purchases? Unfortunately, the market continues to spin wheels in this quagmire of inactivity, and media platforms are taking their full swings at this stalled target of a real estate marketplace. However, with a sprinkle of fairy dust and the hope that even the impossible has a chance, realtors are preparing their clients to see this abrupt stop as an opportunity to get ahead of the market. That’s right, getting ‘ahead’ of the market is a possibility at this stalled stage, despite contrary views. Although the media elects to focus on the residential fluctuations in price points and number of unit sales, many investors have already capitalized on the diverse opportunities prevalent by this once in a generation hike in interest rates. Designed to curb inflation percentages, the mortgage rates are doing little to impact the daunting 7-8% inflation monster.
However, by stalling real estate sales and inevitably forcing price reductions to the extent of 20% discounts, many real estate investors are acknowledging the 2019 groundhog day effect, seeing properties reduced to this chronological timeline, which, ironically, introduced the onset of a housing boom. The outlier in this entire equation is the reality that inventory is still low to address the growing demographic of immigrants entering our country. With this in mind, is the current real estate market an illusion in the guise of a pumpkin, or is it transformative in nature? Can it actually be a pumpkin, disguised as a carriage taking us to a Palace of prosperity?