This from topretirements.com:
Many retirement communities (in the United States) are experiencing a sales slowdown for this specific reason. One of the problems with the issue is many retirees only want to sell if they can realize 2005 type prices - accepting anything less seems like some sort of defeat. Unfortunately that is the state of the current market - prices are off at least 20% in many parts of the country, and probably won’t be headed higher for some time to come.
This is something we will have to watch here. The fact its, our market is not the same, at least not yet. This is, of course, a matter of psychology - the self-defeating desire to sell low and buy high. If markets start to decline the cost of construction will also decline – in the short term. Waiting to buy, when the market has hit bottom will not be wise. The return to present equity levels may take a long time. If energy prices continue to increase as expected, property values may not return in a very long time.
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