The war between Russia and Ukraine may be a good distance away, but it affects the American real estate market more than you think. Lake Homes Realty’s CEO, Glenn Phillips, shares how could affect your real estate transaction.
- Crisis Fatigue: From the pandemic to inflation to the war, all of these back-to-back crises can start to weigh on everyone. This can encourage buyers to buy more lake homes as a way to relax and ‘get away’ for a while.
- Life is Short: With everything going on, people are realizing now more than ever that life is short. Why push off buying your dream lake home when the future is not always promised?
- Inflation: An overall rise in prices has been taking the country by storm, and the Russian/Ukraine war will only further expedite this. This could deter buyers from buying, and encourage sellers to sell in order to avoid unnecessary costs.
It can be jarring to know that something happening across the world can directly affect the lake real estate market right here in America. Staying informed will help you navigate the market as it adapts to fit in today’s world!