News from the Washington Post today caught my attention.
Under a picture of ‘for sale’ signs stacked up at a major real estate office, the paper reported that “The number of Americans who signed contracts to buy homes fell in August, after a weaker-than-expected peak buying season.” The article went on to say that, “Contract signings are usually a reliable indicator of where the housing market is headed……Home loans are also harder to come by. Many lenders are requiring 20 percent down payments and strong credit scores to qualify.”
That, of course, is a great source of concern for U.S. real estate firms and for the American public in general.
For Canadians, the continuing difficulties south of the border are simply a full-speed ahead green light for those of us that are passionate about creating significant income or cash flow by purchasing properties at really remarkable prices.
I think it’s fair to say that we’re not only on the right track, it’s now looking like we own the track.