We made it back from Spring Break in Charleston, SC only hindered by a short flight delay on our return from this cold front we are experiencing here.We had a great time, learned lots, and our delay
Daily Habits!
Dated: March 20 2023
Views: 84
We made it back from Spring Break in Charleston, SC only hindered by a short flight delay on our return from this cold front we are experiencing here.
We had a great time, learned lots, and our delay in the airport lounge was value added with M&M's and champagne.
While we were gone evidently banks have been failing. This is the result of the interest rates rising so quickly and some poor decisions on the bank's part. Please remember, there may be some fallout from this but it is nothing compared to the systemic failure that occurred in 2008. Most large deposits are held in bonds. When interest rates go up, bond prices go down. When the banks have a lot of risk on the table and are holding bonds, they can get scared and sell at a loss. When everyone is trying to protect what is theirs, there is a run on the bank.
So far, all depositors have been made whole.
This gives me pause because it means we are printing money. That will slow the reduction in inflation.
For now though, it is helping mortgage rates. Buyers may show up strong again.
Concern about where to put your money? Remember the best returning investment you have is you. Invest in yourself and then pour your information into others.
Keep doing the work, create the daily habits to go deep on the knowledge in the market. Share it. There are lots of people that want to know what is happening out there.
Boomers are stuck in 3% mortgages, investors are still looking to invest. Maybe even more so now because real estate is such a solid asset to invest in. You can touch it, feel it, work on it.
Side note: Did you know a homeowner's net worth is 40X that of a renter?
Busy week this week, kvCORE is generating leads, creating conversations, setting up appointments on your calendar and sending texts. We have preferred partners coming in all the offices, check the calendar and get plugged in.
Have a great week!
Onward!
-Charlie
Charlie Foxworth
Husband, father, opportunity creator. Charlie works daily to improve the lives of others. Supported by a world class staff, RE/MAX ONE is on a one way mission to change the world, one transaction at a....
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