Real estate investing has always been an emotional subject with everybody having an opinion about it. Right now you will find that bringing up real estate investing as a topic at a pub will bring out raw emotions from even from the town drunk.
At one time he might have owned property and may still do, the bank could be squeezing him tight and the only way he can cope is to drink himself under the table. Its not all bad, there are still some people who are making a decent living off real estate investing and will continue to do so in the future.
The trick is to filter out the hype from the truth. Currently due to the economic slow down there is a big fear in accumulating more debt by buying property. This need not be so, buying property should always be a calculated decision that has to make sense in all economic climates. People may not want to think of the worst case scenario but the increasing interest rates brought this fear into reality.
Suddenly anticipating double digit lending rates was not a fantasy but a true possibility. Warren Buffet the world class top investor always used to give this advice which runs along the lines “Fear when there is greed and have greed when there is fear. " Right now there is some fear and soon it might turn into unbelievable debilitating fear. Nothing is certain, but this will be the time to use that emotion-less ability we all have to keep calm in the confusion and scoop up the real estate bargains that people will be dropping in blind panic.
This is the time to clean up your credit, pay off those credit cards, car loans and invest in distress property from auctions and bank repossessions. Some people will call this preying on the misfortune of others. Those will be the same people who will be back when the economy recovers buying property like its crack cocaine with the intention to sell at grossly inflated prices; repeating the cycle.
My advice is to ignore them, they are the reason the market is over priced and you are buying property at the price it was suppose to be to feed your children. Those who get into financial difficulty will be happy just to be out of the bankruptcy courts, you will be doing them a great service and you will be stimulating your local economy. Remember that every little bit counts and helps.
So go out and find that bargain real estate, rent it and stimulate the economy. Do not make the mistake of not consulting a financial advisor for your area otherwise you will end up in a bad credit situation. Your goal is to survive the lean years and not to make the mistake that everyone is in currently due to greed.
Get some more impartial advice from http://www.BestRealEstateBlog.org and Bussiness-Blog.net to plan your wealthy future.