Changes in 38 years of real estate.

When I started my real estate career in 1979 I worked for a man named Glenn Buchwald. He always talked about how when changes occur in the economy (like interest rate increases or new mortgage rules) realtors freak out and think no one is ever going to buy anything and they are going to starve to death! In other words, "the sky is falling, the sky is falling"!

He said that back in the day when people didn't have a lot of money, realtors actually took chickens on trade to barter for real estate services. That's one of my favourite sayings to this day , "I'll even take chickens on trade".
He said that one time when interest rates went up a whole percent (to 6%) a realtor walked in to his office and slapped down his keys and said "I quit! People will never buy houses at these interest rates."

In the 80's, interest rates went from there to 12.5% and stayed there for a very long time. They went as high as 22% and people kept buying houses! Sometimes you just have to relax and go with the flow. The only thing constant in life is change. Hang in there… The sky is not falling!