Let's Not Forget Those Who Lost Their "American Dream"
We are inundated with articles about the state of the market, but no one is talking about the effect the families who lost their homes and are now renting or living with other family members will have on the real estate market in the near future. The economics of this country will change. We are digging our way out of a debilitating recession. The many families who suffered foreclosures on their homes still need a place to live, and will reenter the market when the lenders deem them creditworthy again. It then makes sense that within the next few years, we will once again see a thriving market for our buyers and sellers. The rental market may suffer a bit, but the American Dream will once again be attainable to so many families who suffered some catastrophic life changes. It's all part of the cycle.