Happy New Year! As we look forward to 2022, we can’t help but wonder if this year will reach or exceed 2021’s real estate market performance.
Will prices continue to rise? What about the pace of demand? Is inventory going to increase or remain tight? Are interest rates going to rise? These are all good questions, and frankly, all you have to do is “google” real estate 2022 to find at least some of the answers.
2022 Housing Forecast
After doing some research, it appears that the general consensus is that 2022 should be another strong year for housing. Mortgage rates are predicted to rise, but will still remain historically very low. Demand will be steady, with inventory slightly better. And, according to the National Association of Realtors, home prices will rise 3% to 5% nationally. Of course, no one knows for sure, but in short, this summarizes what many economists, experts, and analysts believe will be true for real estate in 2022.
But, what about you? Will it be a new year in real estate for you and what will it look like? Are you contemplating a move, a renovation, or an investment? Are you reviewing your portfolio, planning to retire, or perhaps creating a trust? Is your family growing? Are your housing needs changing? Do you want to leave a legacy for your family?
Real Estate’s Impact on Your Life
Regardless of the tempo and temperature of the 2022 market, real estate plays a role in your life. A big role. Think about it — homes and land, farms and factories, all have impact — impact on your livelihood, your lifestyle, your finances, and your future. So, regardless of today’s (or tomorrow’s) real estate market, real estate is important. How you buy it, treat it, sell it, and keep it are important. What you think about real estate is important, too.
So, with that in mind, I want to share some prose about real estate written by an unknown author entitled, “I Am Real Estate.” After you read it, you may never think of real estate in quite the same way. It’s both inspiring and motivating.
I Am Real Estate
I am the basis of all wealth
The heritage of the wise, the thrifty and the prudent
I am the poor man’s joy and comfort
The rich person’s prize
The right hand of capital
The silent partner of many thousands of successful people
I am the solace of the widow
The comfort of old age
The cornerstone of security against misfortune and want
I am handed down to children through countless generations as a thing of greatest worth
I am the choicest fruit of toil
Credit respects me, yet I am humble
I stand before every person bidding him to know me for what I am and to possess me
I grow and increase in value through countless days
Though I may seem dormant, my worth increases, never failing, never ceasing
Time is my aid and population heaps my gain
Fire and the elements I defy for they cannot destroy me
My possessors learn to believe in me
Invariably they become envied
While all things wither and decay
The centuries find me younger, increasing in strength
The thriftless speak ill of me
The charlatans of finance attack me
I am trustworthy
I am sound
Unfailing I triumph and detractors are disproved
Minerals and oil come from me
I am solid
I am producer of food
The basis for ships and factories and the foundation of banks
And yet I am so common that thousands unknowingly and unthinkably pass me by everyday
I am your future
I AM REAL ESTATE
Reading this poem is a reminder to me (and I hope to you), that real estate is about much more than the houses we live in. Real estate is about our past, present, and future, and about our heritage, wealth, and legacy.
I’m also reminded that being in the real estate profession is a calling — a high calling. So, thank you. Thank you for the honor and privilege of serving you and for allowing me to be part of the role real estate plays in your life. Here’s to 2022 and here’s to real estate!