From a mortgage perspective, Dataquick analyst John Karevoll called the uncertainties surrounding the real-estate market in 2005 “much greater than (during) any time I can think of.” The Iraq conflict continues to use U.S. resources. The national debt is at its highest level ever. Terrorism remains a threat. The dollar is declining, spurring an international currency crisis. The threat of resurgent inflation remains, as fuel and raw-materials prices head higher. There is a possibility that the stock market will tank. And the stimulus of a presidential-election year is now behind us. The times ahead are filled with many challenges.

Although all of these issues can make us uncomfortable, we should not ignore reality and the facts. The future of our real-estate investments will always be on a case-by-case basis.

As we face the future, let us remember the words of Martin Luther King Jr.: “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.”

Rene G. Boisvert is a principal and owner of Boulevard Equity Group, a boutique real-estate mortgage broker specializing in investment loans and loans with challenging circumstances. He can be reached at (510) 444-8420 or Rene@BoulevardEquity.com.

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