How High is High
Monday, December 8th, 2008 Subscribe To Our Feed
There’s one truism in real estate we all likely know, and that is “What goes up, must come down.” It’s true, but the question is how high is too high? For the seller too high was fantastic, for the buyer too high may bar them from being able to buy a house at all. So what drives the markets anyhow?
What drives the markets is usually a combination of things ranging from first of all a healthy economy to a booming construction industry. Take for instance a quick example of a small province in Canada, agricultural in nature. Most young people leave the farm to go elsewhere for jobs. They inevitably find the cost of living is too high elsewhere and come home – in droves. This drives the demand for housing right through the roof.
It’s interesting how the real estate cycle works. You can actually learn a lot about your local area and how well it’s doing by the number of home sales and the prices they go for.
Want to get your mind free from Real Estate? Don’t blame you. Go get yourself a wonderful Camps Bay holiday accommodation and relax!
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