Chrysler and the Windsor Housing Market
With Chrysler going into bankruptsy protection is this a good time to buy since Windsor is so dependent on the auto jobs? Based off of what I've read Chrysler production has been guranteed for 3 1/2 years at the WAP. Given that prices are at historical lows, mortgage rates are at levels nobody ever dreamed they'd be now seems like a very good time to invest in a home. Supply is abundant, prices are low, and Chrysler seems to be "saved" for the next 3 1/2 years. We may end up building small cars instead of the mini van, but a job is a job.
So have we reached the bottom in the real estate market? There is never any way to tell if we've hit bottom in any market, whether it be the stock market, housing market job market etc. But speaking from my personal point of view there have been numerous times over the last 15 years where I said "man I should of bought then". It's not a great feeling. So I'd say I'm cautiously optomistic and hopefully I can say in 3-5 years "man I'm happy I bought a few years ago".
Have A Great Weekend,
Don Merrifield Jr. ABR