2 years ago, the world was captivated by the doom and gloom of the financial meltdown unfolding in front of them daily on their television sets. Stock market dives, bank failings, bailouts, and regular doses of experts sounding like Chicken Little, all convincingly stated that the sky was falling; The financial meltdown would soon take out the global economy.

Many sources are now stating that the recession is over. But there are always some who, like Chicken Little, allow fears to carry on in their mind longer than the situation warrants. Lingering fears often cause people to act irrationally. Take those individuals who never trusted banks again after the Great Depression. Even though their deposits were since secured by the FDIC, they chose to keep their money buried in coffee cans in the backyard instead.

Right now analyists from numerous segments of the economy are saying, “This is a great time to buy.” Their reasons are numerous, and backed by strong data indicating homes are as affordable as they may ever be, with sellers pricing aggressively & interest rates at all time lows. They also cite the great selection of homes to choose from and the many lifestyle & financial rewards of owning a home that have always made it paramount to the American Dream. 

However, many potential buyers still remain on the fence, cautiously watching the sky for signs it may fall. There is action in the market though, from another group of buyers. They are busy securing an affordable home before prices and interest rates rise and increase monthly payments (& likely their current rent rate). Instead of listening to Chicken Little, these buyers are acting more like the Little Red Hen, who grew wheat and baked bread while the other animals merely stood by and watched to see what would happen.

In the end, the Little Red Hen was the only character who benefited from the events in her fable, by wisely acting during a season of opportunity. The farm animals who mearly stood by and watched, missed out by choosing not to participate. And, Chicken Little suffered the only appropriate fate deemed appropriate for fables created by previous generations to scare their children: he was swallowed up by a villainous fox.

In today’s housing market, the Little Red Hen would be busy buying a hen-house. She would use it to provide shelter for her family, lock into low housing costs for the future, and to build a nest egg she could always sell later on to one of the farm animals who decided to watch the sky and sit out the best deal on real estate in decades.

Post by Tabitha Zesch, Relocation Director