In reply to docwyte :
Yes. Remember China's 1% is 100.5 million people compared to our mere 3.3 million
One other point, there are more Billionaires who don't live in America than there are in America.
In reply to docwyte :
Yes. Remember China's 1% is 100.5 million people compared to our mere 3.3 million
One other point, there are more Billionaires who don't live in America than there are in America.
In additon to RE purchases in NY, TX, CA- Another phenomena I am seeing is, all the Asian investors buying property next to good universities.
docwyte said:Pent up demand? Only if you're employed! There's going to be a huge sector that won't have jobs as their companies have gone out of business. Airlines will be laying off an enormous amount of people as are the Oil/Gas companies. Same thing with service industry, lodging, food services, bars, etc...
Look America is fundamentally sound. We were on the 11th year of growth. Too long based on history for there not to be a correcting factor.
At the point where a normal market correction would have occurred the artificial stimulus of the 1.7 Trillion dollar tax cut drove the market up into the bubble region with most of the benefit of that influx of capitol being spent on raising the market rather than building new factories or making investments in modernization. Things that have long term benefits.
When 70% of the market is driven by consumer's they eventually reach their limit. Debt by most Americans was higher than before the 2008 recession. A correction was coming without the virus.
At some point the virus will reach its peak and then recover. Life will return to normal and the conditions that existed before will remain.
The millennial generation were late to buy homes for reasons we are all aware of. Once the virus passes millennials will surge to get homes and start the road to middle class. Reasonably knowledgeable people seem to believe the peak will be July or August so the market will take an upswing by Thanksgiving or Christmas.
My best guess is the market will be soft by June and recovering by September/ October But inflation will come galloping in by the spring of 21
In reply to mr2s2000elise :
I've dealt with the public. The public is some of the shadiest, sleaziest, underhanded, back stabers you'll ever want to meet. So yes I agree with you salesmen have to be just as bad or worse. Especially in the areas you mentioned.
I stopped dealing with the public and started selling by referrals, repeat customers. It's not as quick a way to make a living but it's a whole lot more satisfying. Then you can go to work and do your very best making sure the customer is well treated. He's well informed and you focus on keeping things ethical and respectable.
You learn who to avoid doing business with. The smart customer knows that you will make a fair profit but you'll earn every dime.
frenchyd said:In reply to mr2s2000elise :
I stopped dealing with the public and started selling by referrals, repeat customers. It's not as quick a way to make a living but it's a whole lot more satisfying. Then you can go to work and do your very best making sure the customer is well treated. He's well informed and you focus on keeping things ethical and respectable.
You learn who to avoid doing business with. The smart customer knows that you will make a fair profit but you'll earn every dime.
well said.
In this day and age, information is something everyone has access to. The people who can actually provide a quality service, as you mentioned, should get paid and they do very well.
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