A survey came out recently that provides a lot of interesting insights into the minds of “experts.” A panel of more than 100 of these experts were asked how long they think it will be until the housing market is back to normal. (I’ve read the report and I’m still not sure how they define normal but let’s leave that aside for now.)
Here’s how the survey broke down:
40% said it will take 3-5 years
30% said it will take 1-2 years
20% said it’s already happened
10% – um, they didn’t really have opinions
There’s a lot of important stuff here so let’s take things one by one.
First the 40%. In 5 years we’ll probably see another recession, not a normalization!
30% said 1-2 years. I’d say that’s the sweet spot. Prices will climb higher after that.
20% – really? I’m seeing growth all over but people are still talking about our tough times. Does that sound normal?
10% – experts, huh?
As you can see it’s not a clear path for too many people. But if you keep your wits about you and approach real estate investing with the proper tools you’ll be miles ahead of the pack. Or years ahead, in this case.