Dec 17, 2019
Diane Brennan, Tina Tamboer, and Tom Ross give their memories of the 2008 Great Recession that rocked the state of Arizona. They discussed if we are heading for any kind of economic slowdown in the housing industry in the near future. At this point, the demand is higher than the supply for houses in Phoenix.
Diane is a dual citizen and a resident of Canada as well. She got into the real estate business right during the crash in 2009 and started her show largely based on the fact that there was no trusted source for real estate information right after that time.
When the word "recession" comes up most of us conjure stressful memories of the 2008 crash. This episode covers some essential things to remember whether you're displaced, buying, or selling.
Tina Tamboer joins us and besides being a trusted market analyst, also has some experience in buying and selling real estate.
Her key piece of advice in this episode: Have a trusted handyman/handywoman if you're going to own or rent properties!
Tom Ross talks about questions he's been receiving from clients about what might be happening in the markets going forward.
Tina also talks about the trusted relationship that The Cromford Report has with MLS (multiple listing service) and how that data is used for analyzing supply and demand in the Valley, buy and flip options, and much more.
One thing that's important to note is that headlines can be deceiving - and some may point out how they "called the market", but don't talk about any of the items that didn't exactly hit the mark...
Robert Schiller - Case/Shiller Index Analyst. Here are the last three weeks of headlines (at the time of this episode)
- Nations' Jobs Picture Not as Bright as it Seems (3 weeks ago)
- Economic Stories Like Fears of A Recession Can Go Viral and Be Self-Fulfilling (3 weeks ago)
- A Recession That Could Discredit Trump Looms Large (3 weeks ago)
- There WILL Be a Recession - the Question is When? (2 weeks ago)
- How to Avoid A Market Bubble (6 days ago)
- Recession Likely Years Away (3 days ago)
- Trump is a WALL Against Recession (1 day ago)
The point is that it's easy to make a statement, then just simply revise that point as you see fit. but it doesn't help the consumer and can create panic when facts (and good market data) are essential to making informed decisions.