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Real Estate Matters THE LONG & SHORT OF IT Markets go up, markets go down. Sometimes we see it coming, sometimes we don't. It all depends on what both consumers and businesses are buying, and when. How can we tell if and when real estate will recover? We need to ignore short-term fluctuations, but pay attention to long-term forecasts instead. Consider that homeownership increases by roughly 1 million each year. There are 4 million births, 2 million deaths, 1 million new immigrants, 2 million weddings and 1 million divorces each year. All of those events spur people to buy or sell. Crunch the numbers, and you'll see that we can expect roughly 60 million home sales in the next decade. Regardless of the subprime mortgage debacle, and the ensuing foreclosure crisis, real estate will remain on the rails, an unstoppable freight train barreling towards homeownership.
Just as surely as the market sees recovery, buyers and sellers still need representation in these transactions. A recent survey by the National Association of Realtors reveals that 80% of buyers and sellers would recommend their agent to family and friends. That's a loud signal of the value of representation. Jackie Schoelerman is a Realtor with Alain Pinel Realtors and a Real Estate Specialist for Seniors. Call Jackie for real estate advice.
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