October 29, 1929 was a gut-wrenching day for investors in the American stock market.  It marked the day in the episode known as the Stock Market Crash of ’29 that panic selling reached fever pitch and the financial situation of the nation began spinning wildly out of control.  It was tough for a lot of reasons, but perhaps one of the main difficulties was the length of time it took to recover.  Economist Richard Salsman said “Anyone who bought stocks in mid-1929 and held on to them saw most of his adult life pass by before getting back to even.”  That fact alone no doubt caused a lot of grief and heartache.

So what does this have to do with real estate?  Lots, actually.  Though homes are bought and sold in a completely different marketplace than on Wall Street, a lot of the decisions in the process are made with similar types of information.  A home has been referred to as the single-largest investment most people will ever make, and that truth is worthy of our consideration.  Something of that magnitude needs to be entered into advisedly, and carefully.

So, with all of the news today about uncertainties in real estate, might we just suggest that in times like these, there yet remains much opportunity to make sound investing decisions.  Whether in the market for a personal dwelling, or for residential rentals or commercial leases, a quick glance at the market will reveal plenty of choices for the savvy investor.