There are a lot of dark clouds out there in our economy. All we keep hearing is that home prices are going to collapse, more job losses, and the "fiscal cliff". There is always something new to worry about, there always have been, yet commerce continues, it always does. Please stop telling me that next year will be worse. I have heard this too many times since I began my career selling homes in the mid 70's, and each year I have never seen it get worse, slower but not worse.
There is a difference in a slow down and getting worse, which by the way sounds very negative to me. I try to move away from the negativity and keep going forward, simply because while most people crawl under a rock during these uncertain times, they only come out after it seems that everything is okay and the worse never happened. By then it is too late, the best opportunities have just been taken.
Very successful businesses were starting during the "worst times" of the 1930's depression, they survived and prospered. I always try to remember that.
We are fortunate here in London that the home prices never skyrocketed as they did in Calgary, Toronto and Vancouver, therefore our homes are very affordable with these low 3% mortgage rates. At some point these rates will have to rise, as will home prices, simply on the basis that the economy will eventually improve. The way I see it, we are living in our own modern day depression, it's just that it's not like the way we thought it was supposed to be.
This is our depression, what are you waiting for?