It seems like everyone has their opinion on where the housing market is headed, but those predictions aren’t all created equal. Just last week Warren Buffett wrote to Berkshire Hathaway shareholders, "Within a year or so, residential housing problems should largely be behind us." Phew! It is nice to hear positive news regarding an industry I am so passionate about. I know it will not be an easy path returning to real estate normalcy, but the fact that Warren Buffett (with his unmatched track record) sees things looking up, so do I.
Buffett also wrote, "Prices will remain far below 'bubble' levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn't afford to buy an appropriate home a few years ago now find it well within their means." This statement really hits close to home; when working with clients I find many of them only looking at one side of the coin. They see that they are selling their home for less than it was worth a few years ago, but what they are overlooking is the home they’re about to buy is also less than it used to be. While this isn’t an ideal situation for those downsizing, buyers who are upgrading have a real advantage.
In real estate, it is all about supply and demand. It is nice to see those two approaching more even levels now.
Just writing about Boulder, Co and the surrounding area. Let me know if you want to see Boulder homes for sale; I'm a Realtor.
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