The Housing Market is Doing Just Fine

Just-Fine-STMAre you worried about the housing market and concerned that now may not be the time to jump in?  Worry no longer!  I found this article this week from Keeping Current Matters that paints a very healthy picture of the housing market going forward.  “Finally starting to look healthy” and “Good and Getting Even Better” are both headlines I like to see when referring to the US housing market.  If you have been waiting to start looking for a home or thinking about up or downsizing now is the time.  Interest rates are very low and you can afford more house than you thought!

 

 

Courtesy Keeping Current Matters September 2016

There are some that think that housing affordability is a challenge. Historically, that’s not true. Others think that home prices are approaching bubble values. If we look back over the last sixteen years, that is also not the case. As a matter of fact, the numbers show that the U.S. residential real estate market is doing just fine.

Here are two articles and excerpts that make this point:

The Housing Market Is Finally Starting to Look HealthyThe NY Times

It has been an excruciatingly long time coming, but the housing sector in the United States is finally getting healthy. Thank millennials and thank homebuilders who are starting to produce more of the starter houses young people demand.”

Why the U.S. Housing Market Is Good and Getting Even BetterThe Street

“Interest rates are so low now that a family can buy the median-priced U.S. home on income of less than $45,000 a year — about $11,000 less than the median household income. And half of America’s houses are cheaper than that.” 

There are those worried that all this positive talk resembles what was being said in 2004 and 2005. Jonathan Smoke, Chief Economist at realtor.com, explains the difference very simply but effectively:

“The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That’s the exact opposite of what we have today.” (emphasis added)

Give me a call and we can discuss your options.  I know excellent mortgage brokers who can find the right product for you.  You can celebrate Christmas in your own home!

Remember it is always toasty in Naples and you deserve your piece of Naples sunshine and a low interest rate!

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