This is an observation. It's not financial advice.
I received a loan application from my website (www.mikeintucson.com) yesterday afternoon, and when I called the woman who applied for the purchase loan, she said this: "I'm getting out of the market, and I'm buying a rental property in the University [U of A] district."
That's the first blip on my radar of a turn in buyer psychology.
I began to comb the internet for data to see what factors push people out of the stock market, and where they go with their money when they leave.
The most frequent answer is that money leaving the stock market flows into bonds or commodities like gold. My investor seems to believe that those traditional safe havens are overbought, and that real estate is oversold.
Bookmark this for your "Encouraging News" folder.
I'm Mike in Tucson, your preferred Tucson, Arizona mortgage lender.
Think of me as your Tucson expert.
photo courtesy Fox Business
