I love it when people compare the current situation with the Great Depression because it makes it even more obvious what an incredible opportunity it is to buy real estate at today’s prices. The biggest misconception in the media, in my opinion, is that today’s situation can even be compared in any way to the Great Depression. When you look at the facts, we are not anywhere close to where we were in 1929. During the Great Depression, we had 50% foreclosures compared to approximately 2.5% today. Eighty years ago unemployment was at 25%, compared to 6% today. Obviously the economic situation is hugely different. On the flip side, prices of homes are down 50% in many areas, compared to 60% during the Depression. The prices of homes in Phoenix are down a similar percentage to what happened during the Great Depression yet the situation is completely different. What an opportunity to buy low and sell high.
Seize the opportunity of a generation and purchase a Phoenix or Scottsdale home at an unbeatable price. Log on to www.ThePhoenixExperts.com or simply call me. I am happy to help.
Marc Brodeur
Realtor
The Phoenix Experts
1-800-300-0263
www.ThePhoenixExperts.com
