Is a Market Correction Coming? EXCERPT from Haven Real Estate Group’s weekly Agent Training
There are a lot of experts that feel that we're going to see a correction very soon. We're long overdue.
As a matter of fact, the word that they're using is mini-recession.
CNBC: There may be a correction in the offing at some point in the middle of the year.
CNBC: We’re concerned about the back half of the year where there will be more uncertainty again about the sustainability of a late-cycle environment.
CNBC: I think the market can fall 10 to 15%.
CNBC: And when you look into 2020 the FED is liquefying the balance sheet. And we think you're going to get a correction in the first half of next year, and possibly the first couple of months...
Now here's my concern, and here's the opportunity with that.
My concern is that, in winter months, we already see a decline in the number of homes sold by 30 to 40%. A mini-recession will likely look like a 30 percent reduction in homes sold for a period, of you know, it could be anywhere from six months to nine months to
eighteen months.
So, it's hard to predict.
Okay, but looking back at recessions or market corrections, it's pretty safe to bet that it's going to be six months at least.
So, my concern is always that it (a market correction) occurs in winter months. Now. I said that's my concern….
It's also an opportunity- if you're preparing for that now, by doing some of the things that we train you to do…
If you're preparing for it now, it looks like an opportunity!
Because as people’s income, and as folks, your competitors…. As your competitors, who have lived literally paycheck-to-paycheck like 85% of Americans…. What happens, when all of a sudden sales drop by 30%, or worse, by sixty percent, what will happen?
Panic! And they'll be out.
-- Realtors –
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