My husband and I were thinking of selling our house this summer, despite the crummy market. But when we asked our realtor if we had a prayer, she said: “It depends on what happens in Europe.”
Yep. You might not be caught up on the fact that Spain got a $126 billion bailout last week—or that Greece may stay in the eurozone after all, thanks to yesterday’s elections.
Why? In a word: Uncertainty.
The U.S. has loaned billions to European countries. A few (including Spain, Greece, and Italy) are so heavily in debt to us and other countries that it’s unclear how they’ll recover.
This is a very complex issue (duh). But basically: there’s so much global instability right now, banks and markets here are likewise fraught with uncertainty.
So my husband and I are taking the long view—not selling this year, but maybe next. All you can really do is stay calm and alert—and keep the conversation going, so you’re always clued in.
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