What is Real Estate?

When some one says to you "I'm in Real Estate" what exactly do they mean?

I own a house. Am I not in Real Estate?

Whether you live in Cambridge, Guelph, Kitchener or Waterloo you are lucky enough to be living in an area that is predicted to to be sitting on top of the worst of this pending storm. So your mutual funds are down 20%, your stocks in the tech and auto sector are not worth too much these days, but that little nest egg you have been slowly building on over the last 10-15-25 years is now prime. The market is at an all time high and you are ready to cash in and downsize. Are you not in Real Estate?

What about you, the guy that owns a few properties around the University. You're in Real Estate, right? I mean you have actually been earning a profit over the years. Sure there has been the odd kegger that got out of hand and some set backs in the "maintenance" of the property but they are all paid off and awaiting liquidation so you can buy that ever so cheap Florida condo on the beach. Sounds like Real Estate to me.

You're a lawyer. You have many clients that have relied upon your expertise in their transaction to ensure everything went just right. Every once in a while it didn't go according to Hoyle, but you got it straightened out, as always. No doubt, that's Real Estate!

I can go on. Stagers, appraisers, home inspectors, movers, duct cleaners, framers, electricians, appliance sales people, real estate agents, furniture sales people and of course Private Sale Professionals. There are many people that rely on Real Estate for something in life. The Real Estate industry is far reaching. Don't think that your decision to move or not move is changing just your life. When you make that decision you set the economic ball rolling. It is your hands that hold the economic house of cards.

We are not in the same boat as our friends to the south, or at least Mr.Harper keeps saying so. Watching a video like this sure makes me think that a slow down in our market here in Guelph or KW or Cambridge seems like small potatoes.

If you are looking at downsizing your home or selling off one of those rental properties, be sharp with your pencil and pay attention to what the market tells you. You don't have to sell, you don't have to give it away, just watch your costs!.

M