I ran into an executive from the automobile industry at the Elvis Costello concert at the Ryman. A smashing performance by Liverpool’s Elvis and an interesting conversation with the man from the motor trade, a term made famous by some other Liverpudlians.

The motor tradesman noted that his company’s car leasing operations had dropped dramatically during the recession and the months following, and that auto sales languished during that period. Due to these phenomena, there is a shortage of used cars coming on the market, which will provide a spike in new car sales.

There is an old adage when a person buys a new car, that person loses a large percentage of his investment by driving off of the dealership. Some feel this can be as high as 20 percent. Cars, of course, are personal property, not to be confused with real property, unless it is a mobile home off of the wheels on a permanent foundation, which would make it an immobile home, I suppose.

In Real Estate 101, agents have been taught through the ages that owning is better than renting, and there is an exercise to prove that theorem. This procedure included the mortgage interest deduction – now being threatened – and the appreciation of the home in a normal market, something that hasn’t emerged in four years and counting.

By taking the monthly payment – a term they are urged to refer to as monthly investment – and subtracting the mortgage deduction, then determining an appreciation of 3 to 5 per cent, and reducing that amount by the rent the buyer is currently paying, it proves that a person is actually being paid to buy a house.

In areas of new construction, the builder contributed to the process by raising prices each quarter. As Apple recording artist Mary Hopkin used to sing, “Those were the days my friend. We thought they’d never end...” Sorry, Mary, but same as your career, they ended.

Unfortunately, new homes have gone the way of new cars. In many cases, builders can’t build homes for as little as used homes are now selling. Buyers cannot pay the premium that builder, in some cases, must charge for new construction.

So, what to do if a person desires a new-home lifestyle? I sought some words of wisdom on this and the answer is to “let it be.” This was actually wisdom of Word, rather than words of wisdom. Randy Word of Broderick Builders noted that the renovation and remodeling industry has realized significant growth recently.

Word, in so many words, attributed this to the difficulty some have had in selling their houses. When their clients “did not receive a suitable offer that would allow them to move up in their home,” they chose to remodel.

Kitchens and the master bedrooms are the most popular renovation, Word says, but he feels the best return on investment is the addition to of a gathering room that includes the kitchen. This area would allow for television, huge screen, for family and guest to relax and watch the Titans fight their way into the Super Bowl.

Richard Courtney is a real estate broker and the author of Come Together: The Business Wisdom of the Beatles. He can be reached at [email protected]