January 23, 2009
The inauguration has created quite a buzz for our great nation. How will this historic event affect the value of our homes? The simple short term answer is that it won’t. Excessive inventory, foreclosures, job layoffs and tough financing will keep prices down in 2009. However, the more important long-term answer is that the new administration should inspire confidence and hope in the average American that will eventually manifest itself in a return to more traditional consumer behavior that will mean buying homes again.
Consumer confidence has been shaken. The Conference Board Consumer Index fell to a new all-time low in December. Lynn Franco, Director of The Conference Board Consumer Research Center says: “The further erosion of the Consumer Confidence Index™ reflects the rapid and steep deterioration of economic conditions that occurred in the fourth quarter of 2008.” The new administration must restore the faith. The stimulus package from 2008 and the new one being created should get banks lending again and consumers purchasing again. America will rise to greatness once again and with that rise will come a steady return in the value of all our homes. This will help real estate return to one of the best investments most Americans can make.
The Broker/Owner of Luxury Homes of Las Vegas, Kenneth Lowman, has specialized in the Las Vegas luxury real estate market for 15 years and is considered one of the experts in the marketplace. He employs a staff of four to assist him in the marketing and sales of luxury homes in and around Las Vegas. He can be reached at 702-216-4663 or email@example.com or on his website at www.luxuryhomesoflasvegas.com