This morning, the U.S. Commerce Department announced that housing starts jumped by a whopping 22% in February. That was far more than expected, and the largest percentage gain in 19 years.
Some economists are writing this off as a weather-related fluke which should be dismissed.
But I don’t really care what they think about it. In my experience, economists are no more likely to be accurate than a stock-picking monkey.
However, what I do care about is this: How are you dealing with the economic downturn? Below you’ll find a poll about how the recession has effected you. It’s anonymous, and I’ll be truly grateful if you’ll participate.
HOWEVER… with your permission, I’d like to offer the best help I can by sharing some really creative ways to increase (and sometimes substantially increase) your income during these tough times.
In fact, during the next 3 weeks, I’d like to share 3 different ideas with you that I think are worth your consideration. I personally participate in 2 of them very actively and am in the research phase of the third idea. In the case of the 2 that I am actively involved, I have had very good results – good enough to justify sharing these ideas with you. (Please believe me when I tell you that for me, it is a very high standard to be worthy of sharing with my readers… and the ideas I’ll share with you during the next few weeks are worthy of your interest.)
So this afternoon, I’ll share the first idea with you via e-mail. (If you’re not already on my e-mail list, please join it using the box near the upper right side of this screen.) I GUARANTEE that it’s something you’ve not heard from the real estate gurus. What I’ll share with you today is only peripherally related to real estate, but is such a great strategy that I really think it’s worth your while.
But for now, take just a moment to participate in this survey – and when you’re done, please leave a comment letting us know how you feel about the direction of our economy in light of the hundreds of billions of dollars the government is spending. Thanks!
[poll id="9"]
I was fortunate to return to practicing law full time, for now, and secure a position handling real estate affairs for a large health care organization at a greater salary than I had, after I was downsized out of an executive position with a company specializing in residential real estate development.
I am one of the fortunate individuals doing as well if not better than before. Mostly due to alot of effort on my part. I invest in rental properties and have done okay with this down turn in the economy.
I am not trying to throw a bucket of cold water, rather put a little perspective on it.
Most of the new housing starts are in apartment building, which is always very volatile
The number that I think also needs to be mentioned is we are 47% below last year. My only caution is we need to be more concerned with a trend rather than one time numbers. When you have very low numbers small changes equal large percentage swings and this skews what is really happening.
This is most likely some good news but I would want to see this over at least a quarter before I drew any conclusions.
One interesting possibility about this number is it may be a reflection of the number of people whom are not living in a home due to foreclosure but they are living with friends and relatives instead of rental houses. It could be that this bounce is a result of a hidden pent up demand for cheaper housing and damaged credit renters.
I think this is going to be very interesting in the short term to see how this shakes out. For if, this is the case it will give people with lease-options as part of their exit strategy more good people to fill those houses for them. We have a huge number of people wanting housing right now that have had their credit damaged by a foreclosure due to circumstances beyond their control and are good risks for a lease-option. Only some time is going to tell but eventually this scenario is coming.
Chris B
I’ve recently taken a buyout package from Chrysler after being an engineer there for several years. I was doing real estate investment on the side but am now doing it full time. My rental property is nearly full which is my only income at present and thand the dear lord for that because without that I would certainly be in a world of trouble.
Hello Bryan I,m looking forward to working with you in the REO Pool Fund Deal. I,m looking for a Partner to front me on this now. Thanks Jack Evans
Hi I am an entrepreneur and sell my advice but not books and products.
My take on lease options, having done them for 24 years is the banks need to refi them with certainty or we are lying to the tenant buyer.
I cant control the “stubborn” lenders “hording” residential funding.
Before 2007 I could count on the bank re-fying a Lease Option in 12 months. I cant right now (Mar 2009).
If we are in the “Home Ownership Coaching” business, as REIs, and the banks dont refi our Lease Options or Land Contracts or Wraps, what is the best long term exit strategy?
Brian, UpState NY