Despite what you may hear, the housing news isn't all negative. In fact, with all the negative media you see sometimes with regards to real estate and the "real estate bust", it's sometimes difficult for novice (and even some advanced) investors to know what to listen to and what to discard. I say you pay attention to what gets you paid- and leave the rest of the negative media to the Chicken Littles of the world who won't learn to calculate and take measured risks...and thus won't ever accomplish anything anyway, in investing or otherwise.
As much as professionals in the real estate and mortgage industries as well as professional investors harp on the point that there is no one "real estate market" and that this is a localized investment, people still give credence to sensationalist media claims again and again that the "market is down" or that the "market is bust"-- despite evidence to the contrary in cities all across the United States.
Even as median prices decline and appreciate at a slower rate nationwide, even when people who don't know what they're talking about are still talking about it (i.e. talking about a bust), there are numerous cities in the country where home values are still climbing at a nice clip.
This is pretty much always the case. That's how market cycles work. Seasoned investors know this and they use this knowledge to their advantage.
Again, real estate is LOCAL.
Check out the federal website http://www.ofheo.gov to find the cities bucking the national trend recently.
Homes' appreciation in some of these places during the fourth quarter of last year far exceeded the national average, according to the Office of Federal Housing Enterprise Oversight (OFHEO calculates appreciation based on repeat sales or refinancings of the same single-family properties) .
In fact, in some markets, the appreciation jumped well into the double digits even in today's market.
The growth of these cities despite a "national downturn"...why?
In part due to an influx of moving-out Californians and people opting out of slumping Las Vegas or Phoenix (cities that jumped sharply in value during the "boom" of recent years before contracting in value), these trends have created smaller booms in these cities. There's other reasons but this should get you thinking and on the road to a quick start to making money!
While some worry that a new group of cities could face a boom-and-bust transition, they clearly don't understand how the real estate market cycles work-- or how a professional real estate investor can use these trends to minimize risk and maximize wealth-building.
So don't pay attention to any overly negative media attention about real estate or "busts", or negative housing news. Instead, do as professional investors do and put your energy instead to work on finding where and how to invest for maximum profit and income. Trust me, plenty of people are making plenty of money. Check out the OFHEO for a quick start to making money when you see where your investing dollars will go the furthest TODAY.