Real estate: It’s time to buy again
“Real Estate: It’s time to buy again” is the headline of a recent article published by CNNMoney.com The article focuses on real estate as an asset class that has underperformed for the past 4 years. However, in the face of much lower inventory levels today, investing in real estate has become attractive again.
Mike Castleman, founder and CEO of Metrostudy, which tracks real-time data of the country’s inventory of new homes, says a housing shortage is looming that will soon create a huge surge in demand for new homes. As such, now is the time to buy, he says.
In the 41 cities Metrostudy covers, 78,000 houses are either vacant and for sale, or under construction – that is less than a quarter of the new homes that fell in that category during the housing boom in 2006 and way below the level of a decade ago.
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