The State of the Home Owner
29
April
The general world economy has been slowly making an effort at a come back over the past year. Unemployment has steadily been dropping, gas prices are high but are essentially locked so they cannot rise too much further for the time being, and the housing market has at least stabilized from the devastating free fall state it was in just a few years ago. When the housing market collapse occurred many new home owners took advantage of the situation and decided it was time to purchase a home. According to realty research, most homes purchased by occupiers in their 20’s to 30’s will only keep the home for an estimated ten to twelve years. This means that in less than six to eight years the novice new home owners who purchased their homes during the time of instability in the housing market will be putting their homes back on the market again.
One of the cries that many realtors and property management companies have been hearing from many current home owners is that home owners are demanding that they sell my house fast. It can be quite a demoralizing and frustrating event for a home owner to not be able to sell their house and realists know that the housing market is still prone to isolated slumps despite the fact that it has stabilized. Many home owners are soon facing the prospects of repossession from banks as well as eviction notices. While the economy is indeed still recovering back to its former glory in many industrialized nations, problems still plague general society and these are very real issues that must be addressed. Hopefully the future will bring better news than what has been presented within the past few years and home owners will be able to live in bliss rather than in fear of an eviction notice tacked to their front doors.




