Many people are wondering if the market will sustain its attempted recovery now that the rebate is over. So will it?
I have mixed feelings about this. I have plenty of clients right now and over the last few months that really did not care about the rebate at all. They saw the current market as an opportunity to buy at the bottom. But once again the media will not shut up and may drive the market back into a recession as they just love to report on the bad side of everything and make generalizations. You all know how I cannot stand the media.
Part of me is a little concerned that we will see a stall in the market. But then again prices are so low and interest rates are still low that I do not see how the market will just stop now that the rebate is gone. If you look back at the history of real estate it always has its ups and downs at least once a decade. But whenever it goes down it ALWAYS comes back up so patience is a virtue.
So will the real estate market crash now that the rebate is gone? I say NO and make sure you buy now if you are in the market to do so.
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