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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: Smart_Asset who wrote (1690)6/8/2013 12:41:03 PM
From: tejek  Read Replies (1) of 2722
 
Your making my point. The low inventory is, imo, the #1 reason for the resurgent housing market. Historically low interest rates are a factor but they have been very low for some years without creating the boiling market we have now. The recent mini spike in rates also contributes. Consumer confidence, as you mention, plays a role but most certainly a minor role vis a vis other factors.

The low inventory has been consistent for at least 2 years.......so have low interest rates been around for a while. The catalyst that has caused prices to increase off their bottoms is that we now have more than just investors in the market place. Its the average consumer coming back in that has a made a big difference. Of course, they are not back in droves. There is still hesitancy on the part of some plus many still can not qualify. However at the same time there are still a number of homeowners who are underwater and can't afford to sell. Its this unusual combo which has led to the increase in prices. However, beyond the issue of prices, we have a housing market 'showing real strength' as Mr. Greene puts it and at the beginning stages of a strong recovery in many markets. And that's where I think Mr. Green is spot on.
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