BrokerageIndustry News

Real estate’s perfect storm?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This is Part 1 of a two-part series. Read Part 2. This year's National Association of Realtors midyear conference was packed with information that can help your business. Today's column covers some important highlights. 1. The perfect storm Robert Sibcy of Sibcy Cline Realtors argued that we are in the exact opposite of the "perfect storm" for real estate. Sibcy contends that now is absolutely the best time ever to purchase real estate. Consumer confidence is increasing, the housing affordability index is the best it has been in 40 years, and interest rates are hovering around 5 percent. In terms of interest rates, virtually all of the speakers predicted that interest rates would be increasing soon. President Obama has warned of skyrocketing interest rates as well if the U.S. continues to finance government by borrowing from other countries. The bottom line is that if rates increase, affordability goes down. Action steps for your business: G...