So I was chatting with one of my home builder friends on the weekend. He says he hasn't had many jobs lately because decrease in sales. He works on new homes and said that the new homes are selling very slowly now, he also told me he had problems selling his home too, dropped it $30,000 and still no dice. So what I have been thinking was that the real estate market is starting to weaken and prices will soon fall contrary to what the media has been publicizing. If new house price drops that means old houses will have to stay competitive and both will drop together, no way will an old house that's the same as a new house in terms of what they have be the same price, depending on area. Renters also seem to be getting smart because why pay $1000/month for a 1 bedroom apartment when you can mortgage a house or your own apartment for the same price? That means rent will also be going down soon too!
In conclusion don't be too hasty when you do your next real estate investment because you might be in for quite the surprise.
G.
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People have always said that real estate is the best way to invest money. As we know putting money in your savings account won't generate much income unless you invest it, "Getting your money to make money!" Find tips on how to succeed in real estate investing, whether it be buying your first home to developing large scale real estate projects and current trends in the real estate market.
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