We Will Survive THIS!

Yes, 2022 in my industry has been, and frankly continues to be, challenging at best. From soaring inflation affecting mortgage interest rates, to fear instilled in all of us thanks to the media (who, in my opinion, tend to sensationalize to grow ratings), it's hard to get going sometimes. We are afraid that it feels like a nightmare. But remember, WE WILL SURVIVE THIS!!

Maybe, like me, the first thing you do in the morning is feed the cat, make a cup of coffee, and turn on the tube to see what's happened overnight. What are the lead stories? Fear, famine, weather and inflation and why no one has gotten it under control. And right in the middle of that is the cost of money...borrowing to achieve the American Dream whether it's your first home or your tenth investment property is scary...It hurts, doesn't it?

Here in Pittsburgh, PA, I'm a veteran of this crazy, wonderful and tumultuous industry of real estate. For over 21 years I've been through the history and development of real estate. From hot markets, severe slowdowns thanks to mortgage fraud with tightening of mortgage guidelines afterwards, pandemic restrictions and post pandemic craziness of skyrocketing prices, insanely low interest rates, buyer demand beyond a Realtor's wildest dreams, and an industry slump that has been disheartening. So what does that mean for the future?

Here we are, late in 2022, and wondering if any members of our industry will survive into 2023. Many Realtors have walked away. Many real estate companies have laid off tons of employees (think Redfin, Compass, Zillow and others). Many agents have placed their licenses in escrow with hopes of maybe trying again when the economy improves. Many brokerages had to tighten their belts to stay in business. And then there are the ancillary businesses that are hurting too: mortgage, settlement, home inspectors, contractors, builders, landlords, and I'm sure you can add many more. All are affected!

But my experience tells me "We Will Survive THIS" as we have in many years in the past. If you're a new agent, don't give up...buckle down. If you're an investor, stay the course. If you're an owner of any industry-related business, don't despair. The industry affects everyone's life and as such it will and must recover and thrive again. Get out there and make it happen