Why we’re in this mess of a Real Estate recession?

I’ve watched enough “ups and downs” and heard enough about the “7 year cycle” of Real Estate so that after the 1985 peak which dropped to a 1991 trough, I was expecting an Up cycle to 1998.However as we learned the overheated market with it’s many perks continued until 2005. We are now supposed to be at the trough again. Interesting article in the Sunday Globe yesterday about the “Commissioner of Employment” who sees huge job growth right around the corner! Lately we’re faced with a ton of unqualified Tenants trying to rent from us in one town while the City next door has Tenants competing for rentals. Very interesting!

While talking to Robbie about this and advertising and upgrading units we spoke about the beginning of this mess and she came up with the most insightful explanation I’ve heard yet:

Clinton and our local reps wanted the HomeOwnership to increase from 60% to 80% and in doing this: “They took “A” Tenants and turned them into “F” Homeowners!” 

What do you think? Mike

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