There was a recent article in The Wall Street Journal that talked about how property sales were picking up.  Boy, were we all excited about that!

Three days later, an article came out stating, “high end homes frozen out of budding housing rebound”.

We who work in the “resort market” know that most of our properties are considered “high end” and we realize that inventory drives prices.  We also realize that the real estate market has not rebounded on the high end as much as it has on the low end.  I’m not really concerned about this long term because if the lower end market picks up, eventually the high end market will pick up.  It is what I call “trickle up” instead of “trickle down”.

A seller of a $200,000 house will probably buy another house.  If he goes out and buys a $400,000 house.  The seller of the $400,000 house might go out and purchase a $700,000 house.  And so on.   You can see why we are excited to see things picking up even though it might take a while to occur.  I just wish it would be sooner rather than later.