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I’m really sorry, to say it. But if you are interested in real estate..

You need to make an effort to educate yourself in economics.

Look… I know this isn’t an Econ subreddit. I know the vast majority of people haven’t even gotten past an intro to Econ class (if that). But if you’re going to be investing in real estate, confidently peddling market advice, or most importantly REPRESENTING BUYERS/SELLERS, please at least make an EFFORT to educate yourself on the basics of economics.

Some basics you should know:

1) MBS (Mortgage Backed Securities) Markets

2) The Federal Reserve, and it’s role in those markets

3) Interest Rates, and what affects them

4) Inflation, and how it works

5) Supply/Demand in major markets

6) Basic economic history and politics (it’s really not that hard to look up)

Some more complicated things:

1) Bond markets (a proxy for supply & demand of money, of which MBS are a small part of)

2) Local, national, and international RE markets

3) Geopolitics and cyclical policy

YESSS I understand there’s no barrier to entry here but for God’s sake RE, have some class.

And as always remember:

1) the best time to buy a home is when you’re ready

2) don’t over-leverage unless you understand the risks

3) don’t kick yourself in the ass for “shoulda woulda couldas”

4) THINK LONG TERM

Sincerely,

Peeved guy with an Econ degree.

submitted by /u/fortheWSBlolz
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source https://www.reddit.com/r/RealEstate/comments/w98qw4/im_really_sorry_to_say_it_but_if_you_are/
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