What do Auto and Trucks have to do with Housing!

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Recently I read that U.S. auto and truck sales were DOWN to record lows. Now on the surface, this seems like negative news? But it really it’s not! It’s just a change in buying behavior because of how long we keep our cars today and the higher quality of the new vehicles. For Example - In 1985 we kept our car for an average of 8 years, and they cost $9,200. Today we keep them for an average of 12 years, and they cost $36,000. We do not buy as many NEW cars because of how long we are keeping them. This is really great news for people’s personal economies. We save a ton of money when we don’t have to replace our car as often! So what does this have to do with real estate, you ask? Well, the same is true for buying a home! In 1985 the average home cost $41,000, and we lived in it for an average of 5 years. Today the average home in Chatham County costs $230,000, and we live in it for an average of 13 years! Staying in your home and car longer SAVES you money and MAKES you money! 

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