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Housing Forecasts No Good in 2010



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By : Greg Smith    99 or more times read
Many people, when they are considering investing in real estate, check out local and national housing forecasts for an idea of the real estate “weather”. However, this last decade has seen an unprecedented real estate cycle – a housing collapse that was widely unpredicted (widely in the sense that many, MANY people bought homes that they could not afford in hopes of cashing in on wildly exploding home prices) and a recovery that cannot be portended by a forecast based on the cycles of the past.

The market goes in cycles; that is not to be questioned. The problem is that the mid-2000s saw the spectacular ongoing explosion of the housing market like the American public has not seen before or since. Doesn’t that say something to you? Doesn’t it say, “Perhaps there are more aspects to this situation than were present with other recessions and dips in the market!”?

The financial analysts and real estate experts are out in *droves*, looking for the article or the book that they can sell to the American public because it has ALL the answers. However, you would think that all these learned people would be so expert as to point their radar in the same direction, which is manifestly not the case.

The market is going up!

You fool! The market is going down!

No, the market is stagnating!

The market is recovering!

No, no, no… the market hasn’t hit bottom yet!

It kind of points you to the fact that NONE of them know what the market is really going to do, when it’s going to recover and who is going to be the last one blamed.

The only thing we know is that right now, home values and mortgage rates are historically low and that buying today is eventually going to pay off. However, no one can say for certain when that is. The circle of real estate life doesn’t make regular email updates to these analysts’ Gmail accounts.

In conclusion, don’t base your real estate investing pattern after any of the real estate forecasters. Take a look at the market. Take a gander back a ways and explore historical highs and lows. Do some number crunching in your target market. You’re going to go a lot farther by doing some impartial real estate research for yourself and your home market than by relying on what Joe Real Estate Expert says.
Browse the latest listings for Boulder CO real estate at BoulderProperty.com. Easily compare prices for Longmont homes for sale with other surrounding communities.

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