John Grace - There Goes the Neighborhood (K0417)

John Grace, President, Investor's Advantage Corp. discusses a trend in housing that suggests that "bigger is not better" for the future.

Transcript: 

John: All of us bought the big house in the same 20 year period. Well, let's see, that means that the eldest of the Boomers are 68, the youngest is 50, what's going to be next? Is it reasonable, in your opinion, that if we roughly bought all of the big houses on the big lots in the same 20 year period that we might be getting out of those houses, for various reasons, in a similar timeframe? It's reasonable to me. So, what we're saying is, to those, like I say the 50, 60, and 70 year olds, put paint on that thing and sell it, put that house up for sale, get your cash, do not wait, because you may find that we're in the beginning of another downturn, as far as real estate, that might be more than 10%, it might be 30%, and who would like to see that happen again when you need the money? 

 

 

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