09/18/2024
Honestly, I'm biting my nails this morning to see what happens with the Federal Reserve announcement and what that looks like for interest rates. 11:01am today we'll see!
So many people have been waiting in the wings, for a long time. I want to see families in HOMES! And not just homes they will lose like so many families did in the 2008 crash. Homes that will raise their babies and appreciate like the lifetime investment they are. I've been seeing lots of apartment complexes being built quickly throughout the Tri-Cities over the past few years. Although I have been thankful for an affordable apartment and a roof over my head myself; a core part of the American dream is SECURE HOME OWNERSHIP!
NOT SCRAPING TOGETHER APARTMENT RENT.
Apartments are NOT an appropriate long-term solution to the housing crisis in America. Property ownership is a foundational tenet of the opportunity within the American dream. And that dies a little more every time the American population continues to ignore what is (and has been) occurring in our nation for many years. No one thinks about not being able to afford a home when they are barely able to afford groceries and the roof over their head. Every American should have a reasonable path to secure home ownership. And not just homes they will lose like so many families did in the 2008 crash. My family was one of the thousands who chose to short sale rather than foreclose. We ate a lot of beans and rice in those days.
These homes MUST BE homes that will raise their babies and appreciate like the lifetime investment they are. Regardless of inflation--never overpay for a property! Your Realtor needs to do their work, find the comps, and protect your family and your future!
Even still, the main problem is not the high interest rates, nor is it the only block to affordable homeownership in our country. In our current economy and market, there have been a multitude of factors leading up to what we are seeing today. One of them (and one that I see is a main point) is the crippling inflation we've seen over the past 5 years, combined with with the death of many small businesses and layoffs during COVID. Incomes have not kept up with inflation, many companies have held back timely raises for employees and at best offered only small percentages, not enough to keep up.
Look. At. The. Trends.
Though I believe lowering interest rates are a bandaid, and not an in depth solution; my prayer is that it will be sufficient to help families on the fence who cannot wait any longer to make the move. Whether it's upscaling or downsizing, needing stairs or no stairs. We have been seeing an uptick in market movement, and that is a great indicator that the populations spirits are a bit higher and more confident feeling surrounding the investment of home ownership.
I'll be watching today with high hopes at 11:01am to see what happens!
Thanks for coming to my TED talk.
Toodaloo! 🎉
"Keep your eyes up so you can make the adjustment."
- Author Unknown
