So what's holding you back?

[Frank Patalano]

"What is holding you back?"

4 years ago this week, I asked this question and it got thousands of responses. The market roared upward for 3 years after that. Over the last year, interest rates have increased and it has affected some markets more than others... I'm not an agent. I'm just an investor that helps others.

When I help new investors with buying their first property I often want to know what is holding them back from pulling the trigger. So I'll ask here.

[Nathan Gesner]

I doubt you'll see thousands of responses. The majority of people are blaming high prices, high interest rates, low inventory, and lots of competition. Those are all true. It's not a great market right now and I expect it will get worse before it gets better.

David Greene compares it to swimming against the current. You can sit on the shoreline and wait for the current to change in your favor or you can keep swimming against the current. Those that continue to swim against the current may not make much progress, and they may even go backwards, but they will continue improving their technique and getting stronger. When the currents eventually shift, the people sitting on the shore will be late to notice the shift and they'll take time to get back into a rythm. Meanwhile, those that stayed in the water will take off like rockets and blow away the competition.