The economy is unstable, the housing market is struggling, homeowners are underwater, and the sky is falling everywhere. This has been the message on the evening news for far too long now. It is true, there are many people having a rough time of it right now, trying to find new and successful careers while keeping their heads above water, but depending upon how you look at things, not all of the news is bad. If we look at things just a little bit differently, things are much better than they seem.
News on the job front has not been good. Unemployment levels are high and the numbers of people who have been unemployed long term have been growing. This has also given many people the chance to take stock of their careers and look for new directions. The economy is changing and the skills needed to succeed in the future may not be the same as those needed to be successful in the past. In today’s job market, many people with a college degree are struggling to find work to pay for tens of thousands of dollars in student loan debt. However, there is a lot of opportunity in some careers, like real estate, which will allow you to earn a license after a few weeks of training that will cost you just a few hundred dollars.
The housing market bubble burst with devastating results, and the problems it has caused are becoming old, depressing news. It is true that many individuals got in over their heads on home purchases in the last several years, and those people who were in too deep have been losing their homes in record numbers, but it also means that today’s buyers have some of the best pricing and interest rates that the housing market has ever seen. With the tightening up of the mortgage industry, fewer people will qualify for homes that they really cannot afford, and the qualified buyer of today will get an amazing deal on a home with much better prospects for a financially secure homeownership.
Homeownership has been turned into a horror show on the news. Devastating stories of those who have to take tremendous losses when they try to sell their home in today’s real estate market flood the media. The truth is that homeowners are only upside down in their mortgage if they have to sell. Those who signed on for a mortgage they could afford and do not have to sell are actually ok, even if the value of their property has gone below what they owe for now. As long as the homeowners can continue to make their housing payment, their investment will most likely outlast the housing market dip, and they will be fine when the housing market stabilizes.
As with many things in life, perception is everything. Whether you see the real estate market of today as bad news or amazing opportunity depends on your own situation. For millions of Americans, the dismal housing market of today can be a passing storm, and may leave in its wake a brighter future.
Want to find out if you have what it takes to be a Real Estate Agent or Broker?
About David Goldstein — David Goldstein is an Owner and Founding Partner of Express Schools, LLC. which operates online education providers Real Estate Express, Insurance License Express and License Tutor. Follow him on Twitter.