Although we are hearing some gloom about the economy in America, there is much economic development around the world. There are some remarkable things happening across the oceans.
India is rolling out a new cricket league with a lot of hype similar to the glitz of NFL football.
 
They even imported cheerleaders from the Washington Redskins to promote the opening game of the season. This is happening because entrepreneurs are discovering what home builders in India knew years ago. The new-found wealth of India’s robust economy is presenting all kinds of opportunities for making money.
 
Oil is certainly more expensive but not because there is less of it. It is because more is demanded by China. The economy is booming in China, as well as India. Both nations are manufacturing cars and other goods that are beyond the usual trinkets we once associated with them. Along the way property and housing have become more important when accounting for personal wealth. Yes, there is a real estate industry in China.
 
These two countries alone count their people in the billions.
 
In Dubai, the crossroads of economic wealth between Europe and Asia, spectacular buildings are being built. They are building them out in the ocean on man-made islands with magnificent shapes that can be seen from space. There are huge indoor malls and many more are being built. There is even an indoor ski slope with artificial snow and temperature held at -2 C to accommodate winter fun and sports. Can you imagine that? A ski slope in the midst of a desert country?
 
While not as robust as developing countries and their markets, the united countries of Europe are presenting the leading edge in development of environmental alternatives and manufacturing from recycled goods and services. These are costly ventures but the people support these initiatives enthusiastically. The technologies of wind power, solar energy and recycled products of every description are beginning to accelerate in value, both in sales and savings.
 
The economy is chugging along nicely even in Russia. There are a lot of folks with incomes today who did not have incomes before. They are buying homes and they are pretty pleased about it.
But don’t forget for one minute about the one place they all wished they lived. The number one place for them is North America.
 
At the end of the day, if any of these folks in all these hustling economies had the chance to live here, they would come over in a New York minute.
 
North America is the greatest market for all goods and services. Period. It is the judge and jury of what is cool and hip in the world. It is the in place. It is the only place to be. It is a place where freedom is almost unlimited. Human rights are rock solid. Opportunity is everywhere. Chances are dealt out like playing cards on every street corner.
 
In Canada, America’s shadow next door, all these things are at our daily disposal and more. On top of everything else we have mountains, ocean fronts, clean water, forests, vast tracks of land and more services at our doorstep than anyone can possibly imagine. We have more of everything than any other country in the world.
 
It is no wonder that anyone, anywhere in the world, anytime would drop everything they were doing for a chance to live here. Including the chi-chi rich folks in all parts of the world.
 
So if you really believe that property values here in Canada will be heading downward and sustain lower prices…if you believe that the recent mortgage market screw up has not created an incredible opportunity for real estate purchasers in the United States…if you think lower prices in the American market will last a long time….then get out of this business, because you’re about as smart as a bag of rocks and you are standing in the way of a potential buyer who might have the misfortune of becoming your client. They are not going to benefit from the investment of real estate following your advice.
 
The real estate market in America and Canada will be as robust as it ever was, house values will rise and the market will be even more active.
 
If you really care about your clients, then tell them: Beg, borrow, figure, fiddle, scrape, save but for crying out loud get out there and buy a house! It’s the best investment you will ever make.