Real Estate Experiment: The Real Estate Experiment

Real Estate Experiment: The Real Estate Experiment: I am new to the blogging world but, I have a theory on how we can take control of the unreal prices of real estate (in NYC) in a "so called"...

The Real Estate Experiment

I am new to the blogging world but, I have a theory on how we can take control of the unreal prices of real estate (in NYC) in a "so called" recession. I think that we the buyers have complete control in this market and if we all stick together that we can create a golden opportunity for ourselves. What is it that drives the real estate market to rise, fall, or remain stable? Supply and Demand. So , we are in a over-saturated real estate market and though it has slightly dropped in NYC, it has not met the same depth as many other parts of the country. I know we live in a city where one in ten people are millionaires, and that doesn't help "us". The solution for "us" the little guys, aka the middle class is to save every dollar and not buy. If you feel like you have come across an amazing deal, you are wrong. Here is why I say that....... First of all the job market has not only not improved but, the city plans on laying off a large percentage of city workers. This means that the job market has absolutely no job security. City workers are usually the most stable in the job market, but not anymore. Next, is the fact that unemployment has been extended several times, and many people are coming to the end of their road of unemployment benefits without employment. This means that people will not be able to pay their mortgages, and foreclosures will now start coming into play. Now, the real estate market will start to become much more realistic. This is just my theory, so I am looking forward to any and all input. Thanks for reading!