| When I’m out speaking at events throughout the country, one question I get asked over and over is when is the market going to crash. We certainly are in an odd situation. People who were lucky enough to lock in near zero percent mortgages just aren’t going to give those low rates up and sell their house. This is one of the major factors behind this wave of incredibly tight inventory. On top of that, the government has been sticking its nose where it doesn’t belong for way too long meddling in and manipulating the market now more than ever. And of course, inflation and the looming worldwide economic slowdown can be a bit scary too. China’s economy is about to implode which will one way or another hit our shores too. All of this can have a disastrous effect on the real estate market. So here’s my prediction for Q4 and really all of 2024: I have zero opinion because it doesn’t apply to my real estate business. And it doesn’t have to apply to yours either. Now I’m not saying I don’t care about the people this will affect. We are headed for some hard times for sure. And the real estate market is not going to escape unscathed. I lived through and survived the 2008 collapse. Well, survived isn’t the right word – I thrived. And so did all of my Probate Fox students. Why? Real estate is just like any other industry. It’s easy to get into and easy to make money when the conditions are right. That’s what we saw over the past few years. People making money hand over fist and just about every Tom, Dick, and Harry became a real estate investor. But when times get tough and the market dries up, everyone goes running for the hills. Smart investors who want to thrive in any market (including the storm that is inevitably coming) choose and master a niche. And probate is a niche that delivers no matter what’s going on in the world. The sad truth is people die every single day. And most of them have not properly prepared their estates. Their heirs need honest, trustworthy real estate professionals to help them through this difficult time. People ask me all the time why I teach probate to other real estate investors. Why don’t I keep all those deals to myself? I’m only one person and there are so many people who have inherited estates that are stuck in probate. And I can’t be everywhere all at once. Honestly, they need a hero. That hero should be you. To your success, Ernie “Always Winning With Probate” Vargas | The Probate Fox |
September 4
My Crystal Ball Predictions On the Market Crash
0 comments
