Well, finally time to add Blanche to the Hall of Shame®. She has truly earned her spot, here.
Why buy a house now? You’ve been getting bad information. Here’s why.
The financial press is worried that they might have gone too far — paralyzing the nation into recession by piling on housing. So they’re finally beginning to question the indexes where they get their data, and whether the news is really as bad as it seems. Slowly but surely, headlines are changing from ‘Don’t Buy A Home Now’ to ‘Is It Time To Buy?’
We said it here first on Realty Times — that consumers aren’t getting the full story. Indexes [sic] can be misleading because of the locations, prices, types of housing, and rates of increase they track.
2006-09-24: A Soothing Voice Amid the Market’s Chicken Littles
But Blanche Evans, the author of “Bubbles, Booms, and Busts: Make Money in Any Real Estate Market” (McGraw-Hill, 2006), isn’t buying it. She sees the current slump as more of a breather, as well as a chance for buyers and sellers to “reposition” themselves to take advantage of the long-term upward trend in housing prices.
In other words, she contends there is money to be made in real estate even if prices head south for a while.
Ms. Evans, who is also the editor of Realty Times (realtytimes.com), an online real estate news service based in Dallas, says the current slump has mainly forced a lot of quick-money speculators out of the housing market. “In the normal market people are still buying and selling homes,” she said. “The market is not crashing; the fundamentals and incentives are still extremely good for everyone else.”
“This is all about improving your position,” Ms. Evans said. “When things are bad, they’re not bad for everybody; they may not be bad for you. That’s when you should improve your position. Buy, sell or hold. It’s a poker game.”