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Are Real Estate Values Rising Again?
By: Ron Freeman on September 17, 2014, 4:40 pm
The US is facing new housing crisis and this will affect all Real Estate, including Land. No, it does not have anything to do with subprime mortgages or anything like that. This time the nation is dealing with shortages of rental housing, a problem that will become more severe in the next few years or less.
The simple reason is we are not building enough homes to accommodate the increasing population growth. Building permits is a small fraction of what it was 5-10 years ago.And demand for housing is on the rise Today if someone want to purchase a home the down payment is 2-3 times what was needed a few years ago. The qualyifing requirements are much more stringent.
The shortage is fueling the rising cost of Real Estate across the country.
To add to the housing shortage highly restrictive zoning laws and cost of buildable land makes development that much more difficult.
The retiree population and the younger families are turning to the less developed rural areas to achieve the dream of owning Real Estate.
Unimproved Land prices are at an all time low, making Land the Real Estate dream of the future and the present.
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