Trends

“THE SKY IS FALLING!…BIRD FLU/ECONOMIC CRISIS”

What ever happened to the Bird Flu? A year and a half ago all I would hear on the news was stories about the Bird Flu. My 85 year old father was afraid to go out and feed the birds at his retirement complex. Many became fearful that it wasn’t going be safe to eat chicken. Questions were raised such as, “Is it going to cross over?” or “Is it going to mutate?” It was a crisis and when I would flip thru the channels or read the newspaper not a day went by that I didn’t hear about the Bird Flu.

Fast forward to a year plus later and all we hear about is the economic crisis. We are bombarded with messages like –“The crisis…The crisis…The economic crisis!” The media may as well be saying, “The sky is falling…the sky is falling!”

What does this have to do with the luxury real estate market in Boulder, Colorado? Or for that matter buying a home at anytime?

In the words of Teddy Roosevelt, “The only thing we have to fear is fear itself…” With the news media feeding on our fears and us feeding on the fears that are driven by the news media, we have developed an exaggerated fear of the present economy. Just as we had too much confidence in the economy in that we could all expected to continue to see rising real estate prices in Boulder and that we were immune to any logical thought.

There are great buys and opportunities in any luxury real estate market, especially this one. Interest rates are at 5% & below with loans that are still attainable to people with reasonable credit and a good income that substantiates whether they can make their payments on a continuing basis. The times right now call for logic and they should not be driven by fear and paranoia. There are great investments to be made in luxury real estate in Boulder, Colorado as long as we are not driven by fear and greed.