"It Ain't Over Till It's Over"
June 16,2009
"It ain't over till it's over" is a quote attributed to Yankee's Yogi Berra. I googled it just to be sure my memory of who said it was correct. -And why did this quotation come to mind?
We have heard so many economic forecasts as to when the recession will end, when the housing market will rebound, when interest rates will rise or fall, when the stock market will rebound, etc., etc. etc. Just today the highly respected Anderson Economic Forecast from UCLA's Anderson School of Economics has been published. The forecast is that things will be turning around in the third quarter of 2009, but the rebound in the economy will take several years.
I repeat: "It ain't over till it's over".
I read economic forecasts as much or more than many folks, but what the future will be has less influence on my decisions that what the present is. The present time in the Inland Empire real estate market place is filled with both pluses and minuses. The pluses are the extraordinarily affordable prices of some great homes. The relatively low interest rates for 30 year, fixed rate mortgages and the various government stimuli such as the $8,000 tax credit for first time home buyers and the $10,000 credit for California buyers of new construction. The minuses are the number of foreclosures and the sellers who have lost all their equity. The trauma for many homeowners is real and painful.
In the past, both with the booming markets and with the crashing markets, the time each ended was mostly determined after the fact. "It ain't over till it's over", so stay in the game and make your best plays. That's how one wins in the long run.
"It ain't over till it's over" is a quote attributed to Yankee's Yogi Berra. I googled it just to be sure my memory of who said it was correct. -And why did this quotation come to mind?
We have heard so many economic forecasts as to when the recession will end, when the housing market will rebound, when interest rates will rise or fall, when the stock market will rebound, etc., etc. etc. Just today the highly respected Anderson Economic Forecast from UCLA's Anderson School of Economics has been published. The forecast is that things will be turning around in the third quarter of 2009, but the rebound in the economy will take several years.
I repeat: "It ain't over till it's over".
I read economic forecasts as much or more than many folks, but what the future will be has less influence on my decisions that what the present is. The present time in the Inland Empire real estate market place is filled with both pluses and minuses. The pluses are the extraordinarily affordable prices of some great homes. The relatively low interest rates for 30 year, fixed rate mortgages and the various government stimuli such as the $8,000 tax credit for first time home buyers and the $10,000 credit for California buyers of new construction. The minuses are the number of foreclosures and the sellers who have lost all their equity. The trauma for many homeowners is real and painful.
In the past, both with the booming markets and with the crashing markets, the time each ended was mostly determined after the fact. "It ain't over till it's over", so stay in the game and make your best plays. That's how one wins in the long run.
posted by shirley harry at 8:02 AM
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