As the global economy finally begins to exhibit signs of healing, those who stand on the sidelines invested in Southern Oregon real estate must be wondering, does this mean we’ve hit the bottom? Like weather forecasters with faulty radar, many who’ve predicted impending real estate recovery have been long on optimism and short on accuracy. For the last two years I’ve hoped that the beginning of the end of the Southern Oregon real estate crisis was around the corner, only to watch the crisis worsen. Now, after both TARP and additional bailout programs introduced by the Obama Administration, I believe we just may have hit the bottom. But two driving forces continue to nip at the heels of the economic recovery, and they are confidence and fear.

So how does one instill confidence in the real estate markets from Southern Oregon to Southern Florida? And what about fear? How do we shake loose from its grip? First, let’s look at confidence. At the moment, the subconscious message of an economy in distress is a loss in confidence. When we hear about the potential bankruptcy of industry giants like General Motors and Chrysler, it sends signals throughout the populous that undermines confidence. Southern Oregon reacts with alarm to this possibility just as much as Michigan. I believe these two auto giants will survive for two reasons – because of concessions by the United Auto Workers, and because of governmental support. Saving these two industry giants will help to restore confidence in the economy.

As for fear, when confidence returns, fear will wane. Let’s face it. Americans are a pugnacious bunch. We don’t run from adversity. Instead, we stand toe-to-toe with it and duke it out. Restructuring the manufacturing industry coupled with banking industry reform is the American way of standing toe-to-toe. As banks rid themselves of toxic assets, as mortgage terms are being renegotiated, as industry giants restructure, the inherent strength of the American economy will return, and when it does, so to will the inherent strength of the Southern Oregon real estate market.

Michael Masters

A Socially Conscious Real Estate Consultant

     

More on Topics: Confidence, Fear, Market, Real Estate, Southern Oregon, Southern Oregon Real Estate, Southern Oregon Real Estate Market

Tags: Confidence, Fear, Market, Real Estate, Southern Oregon, Southern Oregon Real Estate, Southern Oregon Real Estate Market

This entry was posted on Thursday, April 30th, 2009 at 9:43 am and is filed under the category Grants Pass Real Estate, Green Real Estate, Michael Masters. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.