Stock Market Disruption Worries

Well, it sure has been a tough week in the stock market, and I’ve been inundated with calls asking my thoughts. I have been as bullish on this home market lately as I have been in a very long time. Properties have been consistently moving at pricing that I believe is sustainable.

Of course, the Dow is a very important factor in the luxury home market, and a week like we’ve just had certainly isn’t ideal.  I’ve been very conservative in my career and I’ve watched the markets carefully. Although, I do believe there is potential for a problem, I don’t believe the time to panic is here. We can sustain this type of volatility and market correction at this point.

What I will say is that it’s very important to work with someone (whether it’s me or someone else) who has a true understanding of the housing market, the stock market, and the trends that accompany both when things shake up. Knowledge is power and maintaining control in uncertain times is the goal. That can only be achieved with a seasoned real estate professional.

So the question you are all asking is what to do when the Dow tanks like it’s doing, and my answer is to sit tight. Don’t pull out of your deals in a panic. That’s never the right decision. Just continue to watch and ask questions of those of us who have lived through, and survived, the ups and downs of both markets. I can assure I’ll be honest with you, so call me anytime!

Best,
Robert