Home prices plummeting. Foreclosures rising. Mortgages defaulting. Banks collapsing. New construction slowing. Loans vanishing. Credit nonexistent. Financial apocalypse imminent.
Yes, it seemed like the right time to buy that first home.
Along with the two-car garage and 2.5 children, owning a home is one of the tenets of the American dream. Lately, this dream has turned into a nightmare for countless families that have fallen victim to predatory lending practices, a problem only compounded by increasing unemployment. Despite the circumstances, the real-estate market isn’t going to vanish—people will always need places to live. Real estate will continue to be lucrative, not only for real-estate agents but also for those distributors who recognize the opportunities inherent in the market.
- People:
- Mike Cirillo
- Places:
- Philadelphia
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.