Look for the Silver Lining in the Clouds Hovering Over the Housing Market
The housing market is expected to get a boost toward permanent recovery in the months ahead. It is not yet the end of the first month and the negative tone of many reporters is showing up. Take a look at reports and despite the fact that there are expectations of a return of first time buyers, continued cheap borrowing, and lenders responding with more attractive offers and there are those that prefer to point out the negative. There are reports such as referring to a “slow start for the month” without mention of the fact that the UK has been under harsh winter weather this month which usually slows down buyers.
A report of an increase in the housing market for the month can be followed by a statement that in a comparison to twenty years ago, ten years ago, or 5 years ago the increase is minimal. Isn’t it enough that there is a move toward the better? Homeowners want to know when they can expect to see their equity levels rising. Those in negative equity want to know when they can start getting help to recover from the economic conditions rather than forgoing any savings to stay caught up in their mortgage debt. They care little of whether it compares well to ten years ago. Just point out if today is better than yesterday.
Remortgages are getting better and despite the low demand from homeowners it should be growing soon. Homeowners will be discovering that lenders are competitive and ready to do business with low interest rates. This will give relief to those that have been held prisoner by their lender’s standard variable rate which has failed to match the new offers showing up from lenders.
It is time to take on a positive outlook and start looking for the silver lining in the clouds despite whatever report a journalist wants to push at you to sell a headline. Focusing on the negative never gets anyone anywhere. There are some positive things happening and that is much better to give energy and focus to if one is trying to make the right decisions in today’s economy.