Is this the right time…to buy an Albuquerque home?
(Transcript Snippet): ” Tego: Can we talk about this whole, is it a good time to buy question? Cause it’s it’s you know, obviously it’s, it’s a tough question to answer because we don’t know, you know, nobody knows the experts don’t know what is going to happen with the overall economy of this country. And I know there’s a lot of opinions out there, right? You can jump on YouTube and you can get as many opinions or get on Twitter and get as many opinions as you want about the overall economy. And, you know, consensus, when you, when you listen to the experts, I do my air quotes, experts, you know, the economists and other people that are, you know, the pundents on the economy, everybody, you know, is saying there’s, doesn’t appear to be anything. You know, this is going to slow this down right now. Now, now in of course you, you know, you just look at the stock market, which is always the, the kind of the leading indicators. It’s a leading indicator of what the economy, at least how people feel about the overall economy. Right? And so, you know, right now everybody feels good about it. Now, now inflation is the big topic these days, right? Inflation is, is very Tracy: It’s very inflationary,
Tego: Good answer. And I’m glad you laughed with me. Yeah, no, I know. I, and, and, you know, to be honest with you, I’m just going to give my opinion on this. If inflation is going to get, jump up, which it appears it is, or we’re in the middle of it right now, we don’t have the data yet, but you know, inflation is going to run up hard assets. Aren’t what you want. Right.
Tracy: Which is real estate a hard-ass correct. Right. Because you’ve already locked in the value of it. Correct. And your money won’t buy as much with an inflation. Okay.
Tego: To replace that asset is going to cost a lot more than it did today in the future. Right. And so to highlight that, I’ve got that story that I put on. Where’d I put that, I put that on Facebook about the cost of lumber, right. That’s been a big conversation in our industry and, and actually it’s kind of funny. It’s kind of been all over the place. Lumber’s kind of like this whole Canary in the coal mine thing about, you know, what’s going on with, with housing, but you know, you talk to home builders. It’s not just like, no it’s
Tracy: Windows in stores. It’s light fixtures, it’s facets. It sinks, it’s bathtubs, it’s it’s everything. But lumber is a big pack part of the cost of construction.
Tracy & Tego Venturi
Venturi Realty Group
1119 Alameda Blvd NW
Albuquerque, NM 87114