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Keep Calm - The Sky is Not Falling! This Is NOT 2008

Keep Calm - The Sky is Not Falling! This Is NOT 2008

 

Recessions are a fact of life - as we often hear financial advisors say, “It’s not a matter of if but, when we’ll experience another one.” We don’t know - none of us have crystal balls and if you are a business owner as I am, you read, analyze data and come up with your own opinion. And, that’s just we all have about a possible correction/recession - our own OPINION!

 

the sky is not falling in real estate

 

We have heard from many in the news media that ‘this is the year’ or that ‘a recession is upon us.’ Really, their data is no better than ours - they’re stating conjectures - well, and we all know how they love sensationalism! That’s what sells in their business so, they stick with what ‘sells’ in their business. I call it ‘Chicken Little Syndrome!’ Sometimes, it’s at the expense of others’ businesses; in this case, their invalid conjectures are causing some who are/were thinking of buying or selling to hedge their bets a bit.

 

Don't be a chicken little when it comes to Charlotte real estate

 

So, here are a few facts and the conclusion that those of us in the real estate business would like to share:

 

Last week realtor.com released the results of a survey that produced three major revelations:

 

1. 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next.

2. 57% believe the next recession will be as bad or worse than 2008.

3. 55% said they would cancel plans to move if a recession occurred.

 

Opinions varySince we are currently experiencing the longest-ever economic expansion in American history, conjecture about a possible recession does seem like a ‘logical’ progression. Sadly, there is no ‘merit’ to these claims and all it does is remind buyers and sellers of the horrors of 2008 when they hear the word “recession.” It does tend to stop a LOT of people in their tracks - especially if you were a homeowner during the 2008 recession or were impacted by it in any way, shape or form.

 

Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, said it well, With people having PTSD from the last time, they’re still afraid of buying at the wrong time.

 

Most experts, however, believe that, even if there is a recession, it will not resemble 2008. This housing market is in no way the same as it was just over a decade ago. Economist, Jeff Tucker, explained recently:

 

“As we look ahead to the next recession, it’s important to recognize how unusual the conditions were that caused the last one, and what’s different about the housing market today. Rather than abundant homes, we have a shortage of new home supply. Rather than risky borrowers taking on adjustable-rate mortgages, we have buyers with sterling credit scores taking out predictable 30-year fixed-rate mortgages. The housing market is simply much less risky than it was 15 years ago.”

 


 

 

Here’s a little tidbit that I firmly believe hits my point home:


bears and bullsIn the past 23 years, there have been two national recessions – the dot-com crash in 2001 and The Great Recession in 2008. Home values fell 19.7% during the 2008 recession, which happened to be caused by a mortgage meltdown. However, during the dot-com crash/recession in 2001, stock prices did fall almost 25% but, home values appreciated 6.6%. The triggers of the next correction/recession will more closely mirror those from 2001 – not those from 2008. As you know, lending criteria is far more stringent than prior to The Great Recession of 2008.

 


 

the bottom line in real estate

No one can accurately predict when the next correction/recession will occur so, are you going to live your life fearing one? It is very important to realize that the impact of a recession on the housing market, regardless of when it occurs, will in no way resemble 2008.

 

 Read related post: Keep Calm and Don’t Be a Chicken Little

 

 

Take if from the real estate professionals, the media has a political agenda with every story! Before you heed any recessionary warnings, dive into the facts - both locally AND from the professionals with boots on the ground in real estate! Call or text me at (704) 491-3310 today.

 

#NoRecessionHere   #CharlotteHousingMarketStrong   #ThisIsNot2008

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Keep Calm - The Sky is Not Falling! This Is NOT 2008

The Maxwell House Group Charlotte NC

 

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Charlotte NC Real Estate Agents 

 

Charlotte CRS Agent


Debe Maxwell, Realtor®/Broker/CRS

RE/MAX Executive

CharlotteBroker@icloud.com
Direct:  (704) 491-3310

 

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Comment balloon 92 commentsDebe Maxwell, CRS • September 07 2019 09:40PM

Comments

Hi Debe Maxwell, CRS It is natural for some to be pessimist and others to be optimist . I am an optimist. Markets go up and go down but in the long run it keeps recovering and goes up. That's just my take.

Posted by Ted Glover, ABR in Moultrie, Georgia 229-854-5422 (Alderman Classic Realty, LLC) 10 days ago

Debe, Bravo! The sky is definitely not falling and #no recession here.  Thanks to blogs like yours with the voice of reason and others here in the rain, the public  can be reminded that fear mongers, scare tactics and fake news media will not win over the hearts and minds of people.  Realtors and lenders will be guiding and leading the way for buyers and sellers through any market condition, any economic cycle, up or down to meet their client's goals.

I saw that realtor.com article and wondered how that survey was worded/ skewed/ or slanted to produce such inflamatory results.

Posted by Kris Collis, Associate Broker, Professional Results you Expect 570-507-7510 (Smart Way America Realty) 10 days ago

Morning Debe.

Nothing but a political ploy in m opinion. If one keeps telling a lie, eventually it will become the truth.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) 9 days ago

Very well said. Nicely done.

Posted by Sharon Lee, Retired and loving life (Sharon Lee's Virtual Assistance) 9 days ago

Good morning again. In my tradition I would say: keep calm and have some chicken soup.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 9 days ago

I totally agree with your philosophy, Ted Glover! And, like you, I am the eternal optimist!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

Every single cycle, we are here and we are not sensationalising the market at any time either. As long as we continue to inform the consumer, I believe we can head the media's negativity off at the pass, Kris Collis!  

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

You know, James Dray, what is funny is that folks from both sides of the aisle can see this too. What I want to know is WHY the media would WANT our country to be impacted economically? That is EXACTLY what they are doing too - the consumer is hedging, based on their false reporting. It boggles the mind!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

Well, thank you Sharon Lee! I hope you're doing well and having a fantastic weekend!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

LOL And, oh how I love chicken soup, Sheila Anderson! It's a little too warm for it now but, that is one thing that I look forward to in the fall.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

Debe,

I once heard someone say that the media is a "merchant of chaos".  Good news just is not their focus, they would rather focus on the negative.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) 9 days ago

Debe the media has lost all credibility with me.  Not only do they not report all the news, what they do report is soooooooooo slanted to the left that they may as well label themselves a left wing political party.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 9 days ago

And, I totally believe that is their M.O. Alexandra! What is funny is that when I do watch the news, my favorite story is ALWAYS the one they save for last - the heart-warming story that makes you want to do good in this world. I am confident I'm not the only one who feels this way either. Why doesn't one news channel just try that - and return to journalism too? I'll bet they would very quickly dominate the networks!

Ron and Alexandra Seigel 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

Oh and that's another bone of contention with me, George Souto! I don't want their slant - I just want the truth reported. Not their conjecture, opinions, 'feelings' or thoughts on the topic - JUST the truth, please!

I noticed our newspaper today is endorsing a local democrat for a highly contested office. I wanted to write to them and ask them when the last time was that they endorsed a republican. I can honestly say, I've never see it in my 35+ years of living here!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

Hi Debe Maxwell, CRS well where to start and keep this short LOL!  The Fed Chair said last Friday - there is no sign of a recession at anytime soon. The media created yet another R storm based on false and erroneous information of a so-called inverted yield. They don't know squat about the real numbers and what they show and tell us in the fact based financial world. What main sream media does well  is creating false narratives -constantly - to support their agenda - which we all now is get rid of this President.  And quite frankly I do believe most Americans are sick and tired of their nonsense and many simply do not listen to the news. I certainly don't and haven't for years listen to the main stream media.  A financial mentor of mine showed me years ago how the media game is played. Every time we hear another sensational heading (which is constant) all one has to do is switch channels over and over - and les voila - what do you hear. The exact same phrase from the main stream media personalities.  Who do  suppose is doing all this manifestation? The man behind the curtain?  Duh!!! We all know who is pulling the strings!!  Ok done (for now)!!

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) 9 days ago

Thanks for the solid facts.  But it is disconcerting that so many believe a recession is imminent.  There was the 10-year theory, and perhaps we may be due for a short jolt but fundamentals are still strong.  I have noted very edgy clients of late that want to move forward but are 'hedging bets' ... on what though? -- just the recent negative hype I think!  The market is orderly and no fishy business is there as in 2008.   

Posted by John Henry, Residential Architect, Luxury Custom Home Design (John Henry Masterworks Design International, Inc.) 9 days ago

Well said Debe Maxwell, CRS . I will tell you the new makes me so angry some days. As they are not reading the news, but their opinion. Here on the ground, with low interest rates i see a new trend, millenials buying homes at a record pace, and those couples i work with dont like the name, and certainly dont like the perception with it. They are at the older end. They have good jobs, they are getting married, they are having kids and are learning it is cheaper to buy then rent. On the other side, the banks are no where near where they were in 2007 that lead to 2008. Those loans dont exist. Those issues dont exist. SO go forth and prosper. 

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) 9 days ago

Good evening Debe Maxwell, CRS ,

Well said! I do believe like Anna Banana Kruchten CRB, CRS 602-380-4886 most Americans are tired of the nonsense and have tuned them out! They are not reporting news only sensationalism that is not based on fact and truth.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) 9 days ago

One of the most important facts that you've presented is that one thing is vastly different now than then:

"lending criteria is far more stringent than prior to The Great Recession of 2008."

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) 9 days ago

You have to be selective on what media info you 'let in'. Just like the last time, I'd do the same research & then make up my own mind.

Posted by Lyn Sims, Schaumburg IL Real Estate (RE/MAX Suburban) 9 days ago

well, and logically argued position.

Posted by Alan May, Helping you find your way home. (Jameson Sotheby's International Realty) 9 days ago

What is funny, Anna Banana Kruchten CRB, CRS 602-380-4886, is that we JUST heard a story when I was in Denver last week - the same thing, anchors from all of the networks, using the same 'ridiculous' phrase - something that all of those anchors would not have come up with on their own (it was too odd). 

What I don't understand is why they are okay destroying our economy - which is what they are attempting to do, just to make the president look bad. Really? We can't form our own opinion without their interjections? And, they're okay literally driving America's economy into the ground just for their own political agenda? Do they even realize what they're doing? Do they care?

O M G, it's mind-boggling! I loved journalism when I was in school - in fact, I did an 'internship' in the newspaper editor's office and boy, the integrity then and now is an entire 180º difference. It's so sad. As I mentioned before, you can't really call it journalism any longer, can you?

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

John Henry, I sell a ton of real estate and I can tell you that I get the question DAILY - either asking if they should sell now, should they take less for their home just to get it sold "before 2008 strikes again," when do I think the recession will be in 'full effect' or any combination thereof. It is 100% due to news media hype. 

I have even thrown back questions to them - "Why do you ask? Is your business okay? Are they laying off at your office?" Guess what I get from them - SHOCK! "OH NO! We've had our best year ever. We're hiring, in fact." yadda, yadda.

Again, there is absolutely no doubt in my mind that it is 100% media-induced.  I said that already, didn't I?! 👿 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

My millennials say the same exact thing, Scott Godzyk! Funny but, I got a referral today - a millennial with a great credit score, a great job and getting married. They're doing everything right and can't WAIT to buy a home. Thankfully everyone isn't 'believing' the media hype here either!

And, I couldn't agree more - go forth and prosper!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

AMEN! There is no truth to it - even if there was truth to a small segment of it, our business is solid - solid as a rock! Our current inventory level in Charlotte is 2.3 months - that is a 15% increase over last year, yes BUT, at that rate, how long is it going to take to get to a neutral market? It's not happening this year or next, that's for sure!

And I agree with you & Anna - so many people have tuned out the media. Is THEIR industry dying? The irony is that THEY are the ones destroying their own profession, Dorie Dillard CRS GRI ABR!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

Thank you, Margaret Goss and I do agree with Lyn Sims too - it's a sad truth that many don't even 'get' what happened in 2008. It's difficult for many in our own profession to educate the consumer also.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

I completely agree, Lyn Sims! The sad thing is what do we listen to? You have to listen to several sources and then pick and choose and hope you came to the right conclusion! It's a sad state of affairs in America when it comes to journalism these days.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

If there's anything about me, Alan May, I'm sensible, logical, responsible, practical... 🤣 

 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

I am in a very affluant community, with most of my clients paying cash. The ones who do need a loan have a hard time finding affordable housing--to them. But it's not about a "recession". Loans are low, most people know they need good credit and have that. I guess we'll know when we are in a "recession" if people HAVE to sell their homes because they have lost their job. But employment is high now.

Posted by Hella M. Rothwell, Broker/Realtor®, Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea 9 days ago

I agree, Hella M. Rothwell, Broker/Realtor® - there is certainly nothing that is pointing in the direction of a recession, is there?! Yes, I read the other day that unemployment hasn't been this low since 1969. A 50-year low and yet they continue touting their story of a recession. It's so frustrating!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 9 days ago

I’m glad this post is getting so much traction because it looks like a lot of us—more than we think—have a more positive outlook.

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) 9 days ago

Debe Maxwell, CRS I would’ve been able to guess that we could probably avert disaster. Nice article genuinely!

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) 9 days ago

Hello Debe - "traps" of all kinds are "out there". 

Keeping calm.  Staying aware.  Being mindful.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 8 days ago

Debe Maxwell, CRS - Great reporting from you in Charlotte. Buyers and Sellers in your area would be wise to listen. I know you would never steer people wrong and you get your facts straight too! Thanks for the awesome job you do here on ActiveRain! We all love you!

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) 8 days ago

This is a wonderful post.  Thank you.  We work hard to educate our buyers and sellers that it's NOT the same as 2008.  So very tired of the fear mongering media when it comes to this topic.

Posted by Mark and Laura Anderson, Common Name - Uncommon Service (Keller Williams Premier Realty) 8 days ago

Dear Debe,

With as many little tykes as I see running around, there must be parents somewhere looking to find a home for them to grow up in. You can use real estate to make money, but usually buying or selling are based on life events, not the stock market.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton & rest of Maryland (RE/MAX Leading Edge) 8 days ago

Are you sure about this. Have seen 5 moose so far today and the weather is chilly out

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 8 days ago

Excellent post and as I like to say to people who want an opinion we have all been for years telling everyone that interest rates were going to rise, all the pundits have agreed and yet...here we are with excellent rates still below 4% for those with good credit. So, as you say, these are their opinion and none of us really knows what is coming. But even in recession there are still people who need to move for one or another reason.

Posted by Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 8 days ago

Great point about how stocks changed and that in the 2001 recession home values actually increased! Thanks for sharing.

Posted by Stephen Turner, The BIG Guy of NEW HOME SALES (Gemcraft Homes (TriCorner Realty)) 8 days ago

Sales 40% down from 2017, my house is still not worth what I paid for it in 2004. the luxury market above $ 1 million is dead. I would say it's not a healthy market here at all. Yet I know other markets less than 10 miles away rocking and rolling. Everything in real estate is local.

 

We have to do an MRI of each area. Slice by slice it differs greatly. (sorry my medical head in gear today - writing on a medical blog.)

Posted by Corinne Guest, Barrington Lifestyles (Corinne Guest, REALTOR® | Barrington Realty Company) 8 days ago

I have seen many recessions come and go but don't see one on the horizon yet.

Posted by Mike Frazier, Northwest Tennessee Realtor (Carousel Realty of Dyer County) 8 days ago

Very true!  I see quite a bit of Chicken Little Syndrome.  Just be ready to 'shift' if need be! :)

Posted by L. Scott Ferguson, Sunny Florida Real Estate Professional (Ask4Ferguson - Your House-SOLD Name in Real Estate) 8 days ago

Economist Robert Shiller agrees with you! "Shiller, 73, says he “wouldn’t be at all surprised” if a recession begins next year, but he doesn’t have the sense of foreboding he had during the dotcom bubble in 2000." https://www.usatoday.com/story/money/2019/09/09/recession-robert-shiller-puts-odds-downturn-less-than-50/2262520001/

Posted by Marney Kirk, Towson, Maryland Real Estate (Cummings & Co. Realtors) 8 days ago

Add to this decent posting: Keep your common sense & rationale. Be objective

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) 8 days ago

YES! (I tried to make the caps bigger but couldn't) ---- I am on 'team recession' meaning I think we're trending toward one (but I think the technical recession is a year or so off) --- BUT, facts 2 and 3 I think are crazy ------  our economy, and especially our housing market are in a MUCH better place than in the early 2000s, and housing historically (in EVERY recession except 2008) has done extraordinarily well compared to other investments or places people could park money.

 

Recession should be moving people TOWARD buying homes, not keeping them away from it.  

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) 8 days ago

Thanks for a very coherently written post!     We share the same opinions.

Posted by M.C. Dwyer, Santa Cruz Mountains Property Specialist (Century 21 Showcase REALTORs) 8 days ago

Couldn't agree more Debe Maxwell, CRS! Here in metro-Phoenix we gain around 200 new residents per DAY, so how bad can it be?! None of us need the media to fan the flames of sensationalism, but we all know that is precisely what they will do when the first little signs of slippage show up. It will take the cooler heads of us professionals to lay out the facts as they are and ease the fears home buying or selling consumers may have. No, the sky is NOT falling!

Posted by Greg Mona, Real Estate in the 21st Century! (Faira Homes Corp) 8 days ago

Recession Fear Tactics 101 - Don't believe into the false narrative hype !  FF Events are fear tactics with a solution after everyone panics into the trap!  

Its un-American to wish for a Recession!  We are all in this together regardless of opinions.  Anyone that wishes for a crash or a recession is not an American because it effects everyone together.  401K’s are up, House Sales are up, The Blue Sky is Finally Blue Q – Psalm 146

 

Posted by Dave Werth, FULL TIME REALTOR (WERTH REALTY ) 8 days ago

Sorry, but didn't read this, just went a bit crazy after reading your title and just dodging the biggest bird poop I have ever seen. Who said, the skies are not falling, stable and still there. And then try to figure out where they need to be and if their decision is yet to RAIN on us all. RUN, DODGE from whatever the heck it is.

Sorry, just another chicken little fable and a long, intense day. cheers cvc

Posted by Curtis Van Carter, Your Napa Valley Broker Extraordinaire (Better Homes & Gardens Wine Country Group) 8 days ago

Good post Debe,

I don't feel we are heading into a recession. I do feel that the rapid rise in housing prices is self adjusting. By that I mean that the buyers are "standing down" rather that getting into the multiple offer dog fights we saw last year and earlier this year. At least that is what I am seeing in our market. As someone already said "markets are local" .  Plus as has already been mentioned the economic indicators of the 208 crisis are NOT present! 

Just my humble opinion as an ole guy who has seen a few and purchased a home when rates were in the high teens. Do the math on what that does to your buying power.  Just 1%  can take $50,000 of buying power from you if you are looking in the high threes.

Posted by Dana Basiliere, Making deals "Happen" (Rossi & Riina Real Estate) 8 days ago

I agree with Dave Werth that it's un-American to wish for a recession, but there are those who do and who are screaming about it in hopes of fueling a panic that will cause it to happen.

STay strong - don't listen.

Posted by Marte Cliff, Your real estate writer (Marte Cliff Copywriting) 8 days ago

Spot on Debe Maxwell, CRS There are political factions that are converting from atheism to Christianity by the day just praying for a recession. But unless we experience some apocalyptic or catastrophic event they may do well do go back to worshiping voodoo dolls or whatever it is that floats their boat.

Truth be known people from all over the Globe are parking their doe rey me right here in the good ole USofA because there's not a better or safer place on the planet to invest. We ain't seen nothin yet. I'm looking for the next four years to be some of the best the World has ever seen. 

Posted by John DL Arendsen, Crest Backyard Homes "ADU" dealer & Contractor (CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS) 8 days ago

A fabulous post Debe Maxwell, CRS ... we are totally on the same page!  You sure put this together well and so deserving of a FEATURE! Congrats!

Posted by Diana Dahlberg, Real Estate in Kenosha, WI since 1994 262-308-3563 (1 Month Realty) 8 days ago

Thank you so much, Patricia Feager, MBA, CRS, GRI,MRP! I do hope that our message, as a collective group of professionals, is heard above those with a political agenda.

I love that we live in a country where we are free to choose a political party, to support any candidate we want and to VOTE. However, I don't push my political agenda on anyone and can really never imagine pushing one SO hard that, as a collective profession (the MEDIA), our nation's economy would be negatively impacted. 

That is the truth as to what is happening and our mission again, collectively, should be to educate - with the TRUTH!

And, thank you - I love the Rain and the amazing minds, compassionate souls and fun--loving folks here. How lucky are we that we found this place...and one another?!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

I couldn't agree more, Mark and Laura Anderson - it's a sad state of affairs in my humble opinion!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Hi Dörte Engel! I read your comment earlier and nodded my head but, couldn't comment back to you - AMEN! I am putting buyers in homes each week and I know a lot of agents who are doing the same. #NoRecessionHere

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Will Hamm - I said the SKY, not the leaves!! 🍃 🍂 🍁 

Glad you're getting to see moose and I know Sharon is having a great time re-charging.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Oh, I thought interest rates would be at 5% by the end of 2018! Boy, am I glad we are sub-4% right now, Nick Vandekar, 610-203-4543

And, you're right, none of us REALLY know! My point is that we know better than the media though - we ARE the boots on the ground. They're merely talking heads in my humble opinion!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Thank you, Stephen Turner - it's a handy little tidbit to share with our clients who are concerned after hearing the media reporting about 'the recession!'

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Oh, Corinne Guest, our high end didn't really make the come-back from the 2008 recession either. I don't see it picking up in the next few years either. 

And, I totally agree, it's not just local, it's hyperlocal (at least it's that way in my area). I get the medical head - I frequently have that too! LOL

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

I feel the same way Mike Frazier - it's not here and I don't see how it can be with our inventory so low AND unemployment rates at a 50-year low.  

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

You know, I'm all about shifting too, L. Scott Ferguson - we did a lot of that during the recession and I feel like that is what we do in this business, almost daily! 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Well and we know it's nothing like the 2008 Great Recession so, from Shiller, that's even more great news, Marney Kirk! Thank you for sharing!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

As I told Alan May, if there's anything about me, I'm sensible, logical, responsible, practical...oh, and objective...teehee 🤣 

Richie Alan Naggar   

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

There is something to your theory, John Meussner and I do believe that we will be in the midst of a correction or a form of a recession in a couple of years. Right now though, we have such limited inventory and our job market is on fire here in NC!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

You're so welcome and I would expect that we would be on the same page, M.C. Dwyer

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Same here in our area, Greg Mona - I think we're at 125 new residents per day and agree, how bad CAN it be?!

That is the reason that I put together this month's challenge - so we can, collectively, educate the masses! Here's the link to that challenge:

FALL CHALLENGE 2019 - PLAN BY ANSWERING THE DIFFICULT QUESTIONS 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

You know, that's a great way to put it - they're un-American and all of them should be impeached! LOL

Thank you for stopping by, Dave Werth!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Hopefully your own market reports are supporting the theory that the sky is not falling, Curtis Van Carter! The media should report news, not conjecture about a recession. Their falsehoods impact OUR profession, OUR businesses, OUR economy!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

I'm seeing much of the same here, Dana Basiliere. I believe we may be heading into a correction with regards to sales prices and, as you said, buyers are standing down in the face of multiple Offers.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Don't worry, Marte Cliff! I'm a numbers gal and I have my boots on the ground - DAILY! They are NOT going to sway my clients, that's for sure!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

I totally love your attitude, John DL Arendsen! We ARE strong and we ARE the best country in which to invest and I do hope that you're right about the next four years!

I had to laugh at your first paragraph and actually read it to my husband! We got a chuckle out of the conversion to Christianity and worshiping voodoo dolls! 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

I'm so glad you agree, Diana Dahlberg but, there wasn't really a question in my mind as to whether we would agree on this topic! 😉 Hope you have a great week!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 days ago

Well said and right on point. I'm actually hiring a marketing rep to grow our business in the event anything happens, so we'll be on the attack, not sitting by. If nothing happens, watch out, we will be on fire. 

Posted by Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector, The Home Inspector With a Heart! (SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno) 7 days ago

Um, sorry, but the data otherwise known as facts, points to a recesion. Not like 2008? Might be just as bad, possibly worse or, fingers crossed, not as bad. When one looks at the over all economic picture and the curent policies, it's not  looking promising. 

Posted by James Quarello, Connecticut Home Inspector (JRV Home Inspection Services, LLC) 7 days ago

I think the talking heads can try to make a penguin in to a duck, and we all suffer from analysis paralysis to some extend.  I'll keep doing what I'm doing, and if being busy as hell is a sign of trouble I'll keep at it.

Posted by Steve Loynd, 800-926-5653, White Mountains NH ( Alpine Lakes Real Estate Inc., ) 7 days ago

Hi there Debe, what a well constructed post. And as you tell Alan May, you are sensible, logical, responsible and practical - and objective!  D 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 7 days ago

Great post Debe,!I agree that any upcoming recession will not be as disastorous as 2008, but I do believe that it will happen and have a real impact on the real estate market.  It will likely be different  depending on where one lives, but we are already starting to see buyers becoming a bit more hesitant to make a purchase decision here in San Diego.  Here is my take on the local situation.

Posted by Marti Steele Kilby, CRS, Broker/Owner, San Diego, CA (Steele Group Realty) 7 days ago

Thank you for the great stats Debbe: The news media thinks they know it all. It's more political than facts. With the stock market at an all time high and employment at an all time low, it doesn't make sense.

Posted by Rose OReillyHomeSmartSD 7 days ago

I agree with your article completely however we are starting to see the risky loans again so give it a few years....

Posted by Julie O 7 days ago

Smart move, Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector! I built my business exponentially during the recession. Love your mindset!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

James Quarello, I'm not sure what 'facts' you are referring to but, we are in an area that is bringing 120 new people to our beautiful city every single day of the week! Our jobless rate is lower than it has been in FIFTY years, our mortgage interest rates are at historic lows and our current housing inventory is at a 2.3 MONTH SUPPLY. Those facts point nowhere other than an incredibly healthy economy - at least in my area. 

The stock market IS due a correction but, with that we see fluctuations (as we have experienced for several months) and we could possibly see even more losses in the stock market. Then again, I don't have a crystal ball but, I do have real estate & local economic data at my fingertips so, I can confidently share those as well as my analysis as stated above.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

Love your last line, Steve Loynd - I'm rather enjoying this 'trouble' we're in!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

Hi Debb Janes EcoBroker and Bernie Stea JD! Thank you! 

Funny, I was looking for that link to share and as I remembered & sang every word to the song, I saw the date of 1979 - BOY, did I feel old! 🤣 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

I am hopeful that the economists are right - this is only a correction, Marti Steele Kilby, CRS. If not, our lending has been so strict since the previous recession, I don't feel we'll be hit in our business - at least NOTHING like we were 2008 to 2012! 

Great post, BTW! ;-) 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

You're so right, @Rose OReillyHomeSmartSD

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

Thankfully I'm in an area that is not seeing risky loans at all - we are still battling low appraisals in some instances! It goes to show, real estate is HYPER- local, Julie O!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 7 days ago

Very informative, thanks for putting this together. 

 

Posted by Krystin Mitchell, CPA CFE, Accounting, Tax Preparation & Resolution, Tax Lien (KLSM CPA Firm, PLLC) 7 days ago

Nice post. About to post a similar article for our blog. This is giving me ideas too. 

Posted by Beachworks LLC, Buying and Selling Houses in Seattle (Beachworks LLC) 6 days ago

Not to be a contrarian, James Quarello but, I recently heard the media touting the 'historically high' debt levels this year and actually discussed this at Closing with a lender. He explained to me that yes, nationally, the average debt is higher and we HOPE that it continues to grow. Why?

Credit restrictions are more stringent now than they've ever been in the past and income is at historical highs as well. Lenders are requiring LOWER DTIRs for buyers to buy and with the higher income levels, the debt to income is actually considerably LOWER than the historical norms. See the data below.

DTIR

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 6 days ago

Thank you, Krystin Mitchell, CPA CFE! For those of us in the business, it's nice to be able to share our knowledge with the consumer - instead of shooting ourselves in the foot by agreeing with the talking heads who truly don't know what they're reporting! 😉 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 6 days ago

Well, thank you Beachworks LLC! I hope it helps you prepare your data for your consumer. 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 5 days ago

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