While it is certainly difficult to imagine when you are in the throes of a deep recession, history and economics all point to the cyclical nature of recessions. History tells us that since 1854 we have gone through 52 specific examples of a recession and boom, or a process of expansion and contraction, in the USA. The figures tell us that on average, a contraction will last for a year and a half and an average expansion for just a little more than three years. In more modern times, since 1980 there have been fewer recessionary times and more times of plenty, but we don't need to be told what happened in December 2007, when we entered this greatest recession ever.

While our latest recession may well help historians and economists to rewrite some of the history books, there is little doubt that this recession, as well, is part of the classic expansionary and “contractionary” cycle. Today, expansion is all around us and we will see the economic indicators moving up and pointing higher as we go forward. Unemployment is a major issue this time and is likely to stay high for a considerable period of time, so even as the economy gets better, you could be forgiven for being a little recalcitrant and worrying about whether you should save every penny and not consider any potential opportunities. Fortune favors the brave at this time and it is certainly true that now is as good a time as any -- and certainly a better time than in the past few years, to get involved in a real estate purchase.

Many people have not been able to come through this recession unscathed and hundreds of thousands have been affected by cutbacks, loss of job, or other issues. In many cases financial "nest eggs" have been lost and credit scores ruined by ongoing difficulties. We hear that buying a home with poor credit is totally impossible as this recession comes to an end, as the banks just do not want to risk anything at all, right now. If you are one of those first time home buyers with bad credit you might often consider that you are looking for a home at probably the worst time in modern history. You really need to look at the situation differently though, as buying a house with poor credit is not impossible, indeed you may be able to do this with a smaller than average deposit, as well.

Look at the success of land contracts, especially in Detroit, the areas around it and all over the state of Michigan. These instruments are protected by state law and give many people a way forward when they fall on bad times and think they have nowhere to turn. Make sure that you investigate land contracts as one of your options and make sure that you move forward and capitalize on opportunities available now. You can find the home of your dreams and make a life for you and your family, even though you thought all the chips were down. It's nice to see the greatest recession behind us, to wonder how we ever made it through this dark period and to make plans for a brighter future. Go for it, and make the change in your life, today!

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