The Market Doesn't Matter

In typical fashion, today I'd like to challenge another common viewpoint about investing.

Since I've been in the real estate business I've had people ask me "So what's happening in the market this week?" Or I'll read news headlines that talk about the monthly real estate stats. I even read blogs that post the daily stats, number of listings, number of sales, average price etc. All of these stats are monitored and communicated to the public the same way market fluctuations in the stock market are, where entire fortunes can be made or lost in a single day.

Why do we Canadians now seem to apply this 'day trader mentality' to real estate? Most of us who are immigrants or descendents of immigrants should understand the value of buy and hold. Generations before us came from countries where land was not abundant, or difficult to own due to political issues, and came here with the goal of building a financial legacy through owning land. We need to get back to these same basics.

There will always be seller's markets and buyer's markets, corrections and huge growth periods, and we need to be aware of these markets to know our strategy when opportunity knocks. With that said, we need to apply a long term focus when considering our investment goals. We need a 20 or 30 year vision, instead of a 5 year or a daily vision.

We'll find that when we apply this time frame our focus changes and we'll net different results. Instead of wondering if our real estate has dropped or increased in value enough to justify "flipping it" a couple years after we bought it we can now rest peacefully knowing that on average, property values double every decade. If we purchase real estate with this intention we can feel confident that we've positioned ourselves for true financial wealth years later.

Let's change our focus to create a financial legacy for our future generations, instead of worrying about daily fluctuations in real estate stats.

Wishing you a lasting legacy.

Blake

Blake Wyatt is a real estate investment professional based in Vancouver, BC. He has a passion for showing others how real estate can help them build passive income stream and expand their net worth.

Visit my website at: http://blakewyatt.wordpress.com. Follow me on Twitter: http://www.twitter.com/blakewyatt.

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