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I feel, personally, it is time to take a step back and review what has happened historically with real estate when global economies shifted. Let’s go back to 2010 in the U.S.

Here is a quote from Ben Bernanke, the chair of the Federal Reserve, from 2010: “We’re in a situation where the housing market has not recovered, and it will take a number of years for that to happen.” In 2010 homes, the U.S. economy was retracting, with homes being sold as foreclosures. Everything looked bleak. 

I had the opportunity to review a report of the top realtors from Phoenix for 2010 and noticed something amazing. The top agent in the city sold 772 homes. That is not a misprint — I meant 772! If I could interview the agent, he may have given me this timely advice.

1. Look at the positives. When things go sideways, there are always positives; if you can focus on them, you will see sunshine rather than darkness.
2. Choose where you get your information wisely. If you go online or stop at the water cooler in the office, it is easy to get drawn into conversations about how bad things are and people imagining the worst. Decide which sources you will gather information from and rely on trusted, fact-based sources  ().��
3. If you own a home and have a fixed mortgage, understand that there are price fluctuations; unless you are needing to sell, the market may dip but it always recovers. (The average home price in Toronto in 2010 was $431,000 — currently it is $1,061,000.) 
4. Take the same approach with your investments and RRSPs. Unless you need to cash out, the long-term always takes care of nonregistered and registered investments. (In 2010, the Dow Jones was 11,600; currently, it is 44,500.)

I find when the world goes sideways (as it appears to some in Canada), the best approach is to look long-term and focus on the future. Do I have enough savings to get through these turbulent times? Is my job stable? Can I pay for my kid’s soccer or order pizza on Friday nights? Understanding that the short term may be a bit rocky, but long-term things will work out just fine is the best way to avoid the “nervous jitters” that come with constantly refreshing Facebook or Instagram.

A piece of sage advice I was given when I started my real estate career 40 years ago was; 

“Focus on what you can control.”

Currently, we are in somewhat uncertain times. For me personally, the best course for charting is to determine that my bills will continue to be paid, I will still be successful in my career, and my family will be provided for. Any leftover energy will be directed to being a positive force in my community and with my friends.

The long game is the one I trust and believe in.