Letter to the Editor We

Re: 'Mortgage industry pegs 30-year rate at 6.5% by year-end' (Jan. 17)

Dear Editor:

What do all of these so-called "experts" base their projections on? Literally, in a day I can receive three to four optimistic outlooks and three to four pessimistic outlooks by various, and sometimes the same, sources. With so much contradiction in the headlines (newspaper, TV, Internet, etc.), it's no wonder home sales are falling. The consumer is completely confused and has no idea what to do, so they sit on the fence.

As they sit on the fence, they're squandering their money (as evidenced by the super successful holiday retail season) while us industry folks figure out what message to convey. Additionally, the massive media attention given to real estate in the past few years has infused an almost "day trading" type mentality into home buyers and sellers. For most people, this type of mentality will adversely affect their quality of life.

Unfortunately, they won't realize it until 3-5 years down the road when hindsight is 20/20 and they're still paying rent. History shows time "in" the market beats "timing" the market. The future will be no different. With each generation bigger than the previous, the demand for homes will continue to grow -- and so will home values. Until negative headlines stop selling papers and captivating viewers, hoping for change is futile.

Matt Theriault
RE/MAX Palos Verdes
Rolling Hills Estates

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