Oysters can change sex at random, turn grit into pearl, and purify water at a rate of twenty-four gallons a day per adult bivalve. With champagne production down 44% this year, there is no better time for the eastern oyster to colonize new real estate. The same is true for first time homebuyers.
Home sales are up 28% while the price is down 22% statewide in Florida, August to August, driving first time homebuyers off the fence by the lemming-load. In the real estate market, there is always a deal to be had, and the buyers are having it!
As we colonize this brave new market, there are more than a few differences to keep in mind, for example:
- Credit requirements have gone up
- “Full Doc” really means Full Documentation
- Reserves are more important than ever, and more scrutinized too
- Source and season of gift money is crucial to make a loan savory for a lender
Lending has changed. Loans are happening, but it is a brave new market.
Aldous Huxley’s Brave New World was published in 1932 at the start of the Great Depression. The futuristic dystopia describes natural humans in an unnatural world, one without foreclosure defense attorneys, where very little recourse is available to the mass population.