I’m on the same page as you. I don’t call it doom & gloom, I call it reality.
I hope that I am wrong about what could happen to this economy, but I want to be prepared as I can be and then just sit back and watch it unfold if it does happen.
If the average person didn’t live so far beyond their means they would be able to survive, but unfortunately for them many cannot buy groceries or gas until their next paycheck arrives.
There ARE many people with cash on the sidelines, but I think that the number of available homes will exceed the number of buyers in the short-medium term. It’s all relative.
Some realtors are doing well today with that “pent up demand” thingy, but for every house that they buy, there is one less “pent up demander” out there and they aren’t being created like the fed creates money.
I think that there will also be a huge “pent up supply” from the waiting to get even crowd. The MLS inventory numbers don’t tell the true story about what really could be for sale, if only the house was worth more, but there just aren’t enough buyers.
It’s a game of musical chairs in reverse, with thousands of empty chairs and only a few hundred players. Not hard at all to find a seat!
