Welcome to the Kleber & Associates blog! Here’s the latest on What We’ve Learned From the Housing Recovery
As we hold our collective breath, cautiously optimistic that the housing recovery is in a sustainable recovery, what lessons should we learn?
I read this article by Ron Phipps, Immediate Past President of the National Association of Realtors in July, and I put together my own list of things that we have learned from the housing recovery:
1. “All Things Must Pass” The prophetic 1970’s album title by the late George Harrison reminds us that while we together may experience great pain, economic cycles, like life and pendulums, do eventually swing and rebound.
2. Housing will continue to remain one of the single greatest asset classes an individual can own. Society will continue to incentivise ownership. Government will continue to build armies to protect neighborhoods. And economic scientists will continue to argue that the domestic economy cannot recover without it.
3. The value of your home correlates perfectly with the value of your confidence…and your confidence in elected officials.
4. Construction is a self-fulfilling engine of economic lifeblood: fueling job creation and immigration, which influences household formation and in turn, increased construction.
5. Those brands of home and building products that maintain strategic marketing diligence during periods of economic uncertainly will reap increased market share against their competition, who shrink in defensive postures.
My thanks to Mr. Phipps for inspiring this discussion. What have you learned from the last four years?