Thursday, 17 March 2011
After the Great Depression of the 1930s, the real estate market looked like a 98-pound weakling after going 12 rounds with Mike Tyson in his prime.
However, those market conditions sparked a post-Depression boom that sustained 65 straight years of appreciation in real estate. And according to one expert, it’s about to happen again.
“This is an unprecedented economic crisis, but it is spawning an unprecedented opportunity,” said Greg Rand, a 20-year real estate veteran and author of Crash-Boom (www.crashboom.com) from Career Press. “Real estate prices are at their lowest ebb in years, but anyone with a sense of history in the real estate market knows that those prices will rise as the economy improves and the people who got burned in the mortgage crisis are ready to try their hands at home ownership again. You can’t suppress the American Dream, but you can profit from it if you can have the strength and confidence to act.”