Rumors Aside, Housing Lives!!!

In the Commentary section of yesterday's Richmond Times Dispatch, Laura Lafayette (COO of the Richmond Association of Realtors) wrote a beautiful article about the vitality of our local real estate market.

Using Mark Twain's "the rumors of my death have been greatly exaggerated," she illustrates the current state of our housing industry, understanding we have suffered a mighty blow, but we are not dead yet!

"In fact, for individuals who wish to purchase their first home, for homewaners who need a bigger house or for investors who want to increase their portfolio of rental property, it's hard to imagine a more favorable housing market than the one that currently exists."

The national media constantly pushes negative headlines regarding the national unemployment crisis, the influx of foreclosures that have saturated our markets and driven down prices, and how difficult it is to qualify for a mortgage in today's lending market; instead of focusing on these issues that plague our economy, we need to concentrate on our own employment status, our own financial status, and the current conditions of the Richmond market. 

The Fed has committed themeselves to keeping  interest rates low through the end of 2012, but they will have to rise at some point and when it does, those who have not purchased will have lost out!

"The next time you drive by that For Sale sign, think about the ownership opportunity that sign represents for you or others, and think about the difference that sign makes for our collective, economic health. When the housing market performs well, we all win!"

http://www2.timesdispatch.com/news/commentary/2011/oct/23/tdcomm01-rumors-aside-housing-lives-ar-1401037/