Christmas is just around the corner, and what better time to look for homes for sale than now? With the availability of real estate next door, close by, & even right around the corner, it’s hard not to look for a nice place to call home during the festive season. With the entire gamut of homes for sale, from small rental properties to spacious, high-end master-planned communities, your options are endless. But with all homes for sale, it’s easy to miss out on the very best properties that will meet your criteria.
With the availability of real estate right next door, nearby, & even right next to you, Homes For Sale By Owner has become the go-to resource in the hunt for the perfect home for you and your family. The “Homes For Sale By Owner” industry is booming with eager homebuyers following the advice of their “Chief Economist.” The chief economist is usually an expert in the latest statistics, economics, demographics, and current trends in the housing market. The Chief Economist is also responsible for helping the various homeowners associations within the county’s local jurisdiction implement solutions that will help them sell their homes and get a nice profit.
One of the chief concerns that they have is the “Homes for Sale By Owner” glut that is currently impacting the nationwide real estate market. Right now, many homes are sitting on the market, not selling. The lack of interested homebuyers means that rents are up and home prices are down. It doesn’t take too much of an eye opener to realize that renting is not a great way to make a profit when the housing market is in a downturn. As property values fall and home prices rise; renters are left with no choice but to accept lower rent payments or leave the neighborhood altogether.
With the mass of home foreclosures taking place on a daily basis, and the low interest rates keeping everyone in their homes, the solution to this problem should be easy – build more rental units. Builders are beginning to see the benefits of building more rental units because, as the economy and real estate markets improve, the price of single-family homes for sale will begin to rise again. The trick is figuring out how to increase the supply of rentals while reducing the cost of leasing to homeowners. In fact, one of the solutions being proposed by the chief economist is simply to offer lower rental rates – something that almost seems unrealistic.
What can we do as a society to alleviate this impending disaster before it happens? The answer is simple: build more multi-family dwellings. This is especially important in areas where the national interest rate is low, creating a situation wherein high mortgage payments hinder those seeking to purchase a home. If current trends continue, we are headed for an incredibly fast pandemic of low interest rates and multiple, low-priced homes for sale.
In his book, “The Road ahead,” Harvard University’s chief economist suggests that the solution lies in encouraging both home building and rental growth. Many people believe building more homes will solve our problem with low interest rates, but it may not be the answer. As mentioned earlier, many individuals and families have been affected by the low interest rates. However, the problem is structural; as home prices decrease, it becomes more difficult for renters to afford their own place. There are also mixed opinions about whether or not home building can be done effectively enough to offset the negative impact of low interest rates.
Developing neighborhoods centered around schools and universities, preferably with walkable neighborhoods – something like what end zones are in the outer suburbs of Miami, Florida. The chief economist has come up with a brilliant way to address the issue of the spiraling housing market – build an increased demand for rental units, coupled with an improved supply of rental units, which will drive up the price of homes for rent.