| Right now is an extremely volatile and uncertain time. It seems like everyone has something they are worried about. This worry, very frequently, translates to INaction. This is what currently defines our real estate market. Two years ago if you asked someone why they weren’t making a move, the universal answer was something involving interest rates. Either they were locked into their current home because of a very low interest rate or they were bumped out of affordability due to current high interest rates. Or some combination of the two. Now, if you ask the same question, you will get an assortment of answers–almost all centered around some sort of anxiety. Interest rates are still in there but so are tariffs, Russia, job uncertainty, inflation, other global conflict, anger at the administration, optimism with the administration (a sort of wait and see, it’ll get better!) and the list goes on and on. It’s very interesting because it is an impossible situation. What it boils down to is that as a culture, we are a giant ball of nerves and anxiety. Not one thing will “cure” it. This leads to a very reluctant atmosphere. It also leads to a very unpredictable market. Typically, experienced industry leaders can point to certain nuggets of news and say, “this information will move the market (whichever market they focus on) in a certain direction.” Now they can’t. There are so many underlying anxieties that affect individual actions, it makes full predictions very difficult. In the RE market, this is especially true. I see it manifest in so many ways. Some prices are up, some are down. Some properties sell in a day, some take months and months. Some properties that “should” sell quickly don’t, and some that definitely should not sell quickly do. It’s weird, wild and unpredictable. I would say its fun except that it interferes with real peoples’ lives. So, what do you think? What are you anxious about? It definitely helps to talk about it. We have programmed into our culture that we shouldn’t talk religion and politics. We shouldn’t talk about those because they could ruin friendships. I say BS. Who better to talk about those things with than your friends. Get your fears out, give them a name and talk through it. Don’t hold them back. I am always available. |
