Is real estate on the way up?
Some highlights from his article include:
Home sales are at around 4.89 million. In its heyday it was at around 6.5 million. Obviously a little less than 5 million is less than 6.5 million, but hardly a crisis. And the pundits who are running around squealing about how the sky is falling, and we’re all better off renting are full of crap. And they’re doing a disservice to listeners who actually believe them, because one of the very best ways to build wealth is STILL to own a home. (P.S. The key here is to BUILD WEALTH, don’t take all your equity out to buy a flashy sports car just because you can.)
January 2008 sales were 3 times higher than the lowest of lows in the 1970.
Freddie Mac chief economist Frank Nothaft is predicting 5.5% interest rates in the near future. Which means interest rates are STILL at historic lows AND it’s cheaper than ever for home buyers to purchase.
In the coming years, unfortunately the folks who bought into all the hype they’re pushing in the media, and didn’t buy a home when they were more affordable, are going to wish they had.
Beth Skinner is a real estate professional who actually returns phone calls and emails! Click here to search the MLS for your dream home.
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