OfflineThe Thomson Reuters/University of Michigan's final reading on the overall index of consumer sentiment came in at 63.7, down from 71.5 in June, the lowest reading since March, 2009. That is just below the preliminary July figure of 63.8 and the median forecast of 64.0 among economists polled by Reuters.
Without the consumer feeling "good" about the economy, it can be a foretelling sign that the consumer will tighten up their purse strings and hold off on major purchases like housing and cars.
As I have pointed out before, I believe we are in the process of a declining economy once again as there is no organic strength in this economy. No jobs, high commodity prices, no consumer confidence and no political leadership make a recipe for a very slow recovery.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Bill,
That is great information.
From a newbie... still trying to digest the market and trends and how it effects... it actually creates a question... might be a simple answer sorry if it is...
But how do you see what you just said influencing wholesaling and assigning?
Talk to you soon
Tom
the overall market will probably slow down BUT there is always a market for great deals in both wholesaling and assigning. But they have to be great deals. No one wants to buy a $100,000 market value home for $80,000 even if it does need any work. There is no margin in that deal. However, if you find a $100,000 home that is being sold for $55,000, with no work needed, then you will have people knocking at your door even if you add $5,000 for your fee.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
the overall market will probably slow down BUT there is always a market for great deals in both wholesaling and assigning. But they have to be great deals. No one wants to buy a $100,000 market value home for $80,000 even if it does need any work. There is no margin in that deal. However, if you find a $100,000 home that is being sold for $55,000, with no work needed, then you will have people knocking at your door even if you add $5,000 for your fee.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
thanks for sharing, great article... to add to what you said...
in my area the economy doesn't seem to affect buyers... houses are still selling for over half a million; notice that I said houses, I'm not talking mansions here; just regular 3bed/2ba, 1500sqft houses... but they're still about 80K-100K below FMV, so they go fast... investors who find these houses for 200K below FMV are still making good money!
Learning and progressing every day,
Valerie
Valerie
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