11 May #57 History, Real Estate and Finances
Business is certainly not normal; however, Real Estate is still an Essential Service. People will always need housing. We have multiple processes and forms in place to keep our clients safe and protected.
Who would have thought so much could happen in less than 30 days? For many people, this has been a time where life has shifted and we do not have certainty and so in this time, people are having multiple emotions.
History and other financial events that have happened in the past have had impacts on our financial and housing markets. Some of the ones below had significant impacts and are worth thinking about.
1) 1929-1933 the stock market crashed and 13 million people became unemployed.
2) 1941 Pearl Harbor was bombed
3) 1963 John F Kennedy was assassinated
4) 1968 Martin Luther King was assassinated
5) 1980 Savings and Loan Crisis with interest rates above 16%
6) 1989 Troops invaded Panama
7) 2001 September 11 bombing of the World Trade Center
8) 2008 Wall Street investment bank Lehman Brothers collapse triggered by a credit crunch and housing crisis.
Each of these points in history created massive financial shifts. These shifts were caused by a direct personal event or the confidence of people in general, similar to what is happening now. I think the biggest difference with what we are dealing with now is the uncertainty, and the fact that everyone is being impacted in some way.
A thought I want to leave with you is this, this will end. This in no way minimizes what we/you are going through. It is only to hopefully provide you a place to ground yourself and during this time, create a plan to take positive forward action as soon as you possibly can.
Praying for your safety and health, and wishing you a Blessed Day