History
tells us that when the real estate market improves, so does the economy
overall. More jobs are produced through the construction, furniture and
mortgage industry, just to name a few.
Now
that the real estate market has stabilized and is getting it's bearings, there
will be more construction jobs, construction-related manufacturing jobs,
transportation and distribution jobs, retailing jobs, financial services jobs
and a range of service jobs from cable hookups to landscaping. Some
economists say that a better housing market is the principal missing link to a
better job market.
Right
now housing is at record highs for affordability, due to falling home prices the
last few years and record low mortgage rates. Plus, rents are rising, leading
more renters to realize that home ownership might make more financial sense
than continuing to rent. In addition, as the housing market continues to
improve, more households are being formed further increasing the demand.
Rarely
has homeownership been as attractive as it is right now. This certainty
will continue to drive optimism among potential home buyers throughout the rest
of the year.
Tip
of the Week: Get a pre-approval letter from a lender before you start
looking at properties. You will be glad you did! If you need a
referral to a great lender or Realtor, contact me at Nancy @NancyPuder.com
NancyPuder is the broker and owner of Signature Properties, a real estate sales andmanagement firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415
She always enjoys hearing from you!
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