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I Don’t See Dead People, Either

The potential buyer keeps pressing me to answer his questions. He wants to know if I believe that the market will be “solid” in three – five years, and where I think interest rates are heading, and when.

I try to remain exceedingly respectful of all questions my clients ask, as what’s important to them is important to me.  However, this question was fraught with traps, and I am naturally cautious when it comes to being caught in non-legal predictions.

This prospective client wants reassurance as to whether he should buy at all, and if so, whether he is smart to do so right away. If the market isn’t going to solidify, he doesn’t want to be in it. If interest rates will hold steady for a year or more, then he’ll sit back and watch for a while before jumping in. And if I think things are still apt to go kablooey, then I have to tell him so he’ll refrain from having his investment blown apart.

I haven’t got a clue whether he should jump in, stand on the sideline, or run the hell away. What’s right for him now is only whether he can afford to buy and live in a house he likes. If so, I am happy to help him achieve that goal.

If I knew where the long-term real estate market was heading, and how long under-4% interest rates will be hanging around, I wouldn’t be writing this blog. I’d be floating on a yacht in the Mediterranean, occasionally holding long-distance psychic readings for the rich and famous at $10,000 a pop.

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