You can read 10 different articles and get 10 different opinions about the state of the real estate market today and where we are headed. This article, shows a brighter outlook while still being realistic about what we are up against.
There are a couple great points to consider in this article. One is the huge decline in new construction. If this recovery is like others, “It will bring a severe shortage of housing.” The typical average build time for a new home is 6 months. As the market does pick up and home owners are looking for a new home now, that will drive the new construction market up. With a severe shortage in housing, that then drives prices up. That is a positive for the real estate market and therefore the economy, assuming prices do not get pushed back to an unreasonable amount.
This is really a very interesting and detailed article. If you are intrigued by real estate today, check it out here.
-Betsy, Atkinson-Thompson Group