As Home Show approaches, it is important for us to be able to share the upside of the current market with the public. That is the focus of my message (see below) for the HBA Event Magazine which will be distributed at Home Show and other major events throughout the year.
PRESIDENT’S 2009 EVENT MAGAZINE MESSAGE
After 25 years of marriage I have to let my wife in on a little secret. She’s not my first true love. In fact, as time moves on I find myself longing to find my old love, for just one more day together, just one more trip to the lake. But even if I could find her, I’ll bet time has not been her friend. I am sure she would need a lot of work. Yes that ‘73 Monte Carlo still has a place in my heart. My first investment. Long hot days of work over many summers were required to save enough money to buy that first car. I still can remember the security of those keys in my pocket. The status, transportation, and freedom. I was sure that this 16-year-old who had life all figured out had made a great investment. Until it came time to sell. That $3,500.00 INVESTMENT went for $300.00. WOW! That was sure an eye opener.Years later I was sold the investment of whole life insurance. I soon discovered that while that policy did have some value, it simply was not the key investment that I needed. My wife and I invested a little in the stock market and that too has proven itself to be a wise decision. But, I’ve found that there’s just something about the stock market that I don’t like. The key to the stock market is “there are no keys”. Oh sure over time the value has gone up and down, admittedly mostly up over the long haul. But, I really don’t know what it’s worth. I have to rely on some seemingly random number that pops up at the end of each day to discover what value there is to this invisible investment. I can’t see it, touch it, or really even find it. I can’t get insurance on it so that if a financial storm wipes it out I can rebuild it. Will your friends and neighbors even come to a stock rebuilding party after the storm?
The key investment that I have found true security and value in is my house. You see the key is that there are keys. Not only has the investment in my home outpaced the stock market, I can use this asset daily. At the end of the day, my home provides peace, comfort, and security from the weather and financial storms. Best of all, my home has given me a place where life’s best memories are made. The true value of a home can never be measured in dollars alone. Yet, over the course of time, the American dream continues to be the best financial investment one can make. The investment in a home doesn’t just build wealth, it builds families.
Have you ever heard someone say, “Boy, I wish I had bought a home 3 or 4 years ago?” They kick themselves because the prices and values have continued to climb and they realize that those prices are long gone. Today, we find ourselves in one of those rare places where the clock has been set back 3-4 years. Yes, you can buy or build a new home today at yesterday’s prices. These opportunities only come around once every 25-30 years. In the months to come the prices and values will begin to rise again. In fact, population growth trends indicate that in the next 10-12 years we are likely to face a housing shortage in America.
In my lifetime, I have never seen a better time to buy or build a new home. Interest rates are surprisingly low. Locally, our banks are very sound, willing and able to make very favorable loans. Our local economy is sound. Our area is even experiencing job and wage growth. Now is the time to move. Yes, I still have fond memories of that ‘73 Monte Carlo. But while those old cars hold memories, nothing can replace the deep feelings of home. Taste the American dream. Make the investment of a lifetime today. Invest in a dream. Buy or build your new home today.
Rusty MacLachlan
HBA President