Real Estate Investing On Top
Real estate investing may seem like a poor choice due to the high number of new homes coupled with a lower demand for these homes, however, all signs point to the fact that now is the time to get started in real estate.Many economists say decent price appreciation is still possible in several of the nation’s real estate markets, particularly in the Pacific Northwest and parts of Texas. Tom Stevens, president of the National Association of Realtors said that the days of whopping 30% or 50% price gains are over. Though there is seemingly ominous data from realtors and a rash of warnings from homebuilders about a lack of demand for new homes, overall home prices have not shown major year-over-year declines.
Data released this week from PMI Mortgage Insurance, a unit of PMI Group, showed somewhat of an increased risk of a drop in home prices. According to PMI’s U.S. Market Risk Index, there is a 29% chance that home prices will decline over the next two years in the largest metropolitan areas — up from a 22% chance a year ago.
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Posted on Thursday, June 29th, 2006. Filed under: Real Estate Misc
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