Remember always hearing "when I was a kid…." Or "if you think this is bad…" from old timers when talking about weather or the economy, or the infamous walk to school?
Well, here are some brief comparisons to previous crashes, so you can take stock (figuratively) in what your losses are in this correction.
Managing emotions is critical to managing ones investments and that goes for securities or real estate. Here it is October again (somehow crashes are inherent to this month) and most people have watched (hopefully ONLY watched) their shares, bonds, mutual funds crash almost across the board. Did you sell off?
To quote Yogi Berra "90 percent of the game is half mental".
Most people forgot there was a 1,000 point Dow melt down in 1998 in a period of just a few days, following the crisis in Asia.
Most people only remember the "famous crashes" of 1929 and 1987. But there were panics and crashes in 1812, 1857, 1873, 1903, 1907, 1914, 1917, 1930, 1937, 1946, 1962, 1966, 1973, 1976, and 1998. Did I mention the dot-com bust and correction from 2000 to 2003?
But markets have always recovered. Some people panic in certain markets and others see opportunity in panic markets.
We're gonna be OK. Your comments are welcome…
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GRI
2007 President, Orange County Association of Realtors
No comments:
Post a Comment
Leave a Comment!