Real Estate Businesses have been negatively impacted by the health crisis that caused an economic downturn in 2020.
There is so much negativity out there, I always like to also make note of some positives. Applications for new businesses have skyrocketed recently more so than in the past 15 years.
People are seeing a need, realizing that they can shift and do something different; people are realizing that they can make a change and become their own bosses.
They don’t have to feel stuck, they are seeing a need and starting a business to serve that need and fill the gap.During the housing crash back in 2008 and during the great depression, many of the great companies of today were started and innovation was rebirthed.
Also, according to the Home Price Expectation Survey which is made up of a panel of over 100 economists, real estate experts, and investment and market strategists, they anticipated cumulative house appreciation over the next 4 years through 2024 to go up.
The bulls, the more aggressive ones, predict an increase at 4.6%, and the bears, the very conservative, predict cumulative house appreciation at 1.4% with all projections averaging an increase of 3.1% cumulative. They are also anticipating potential growth in family wealth over the next five years to increase to just under 51,000. That’s not too shabby.
I realize that there is a lot of negativity going on out there but it’s always nice to focus on some of the positives.
Always reach out for any advice or feedback as we’d love to help. We’re here to help, reach out to us at Homes by Krista and we’ll take care of you. Make it a great home buying and selling day.