2011 – The Year of the Real Estate Investor
Everyone likes to make predictions when the new year rolls around. Here are mine:
1. One in four home sales in 2011 will be purchases by investors.
2. Reports will come out shortly that over 1,000,000 new rental households were created in 2010. That’s close to 2,000,000 over the last 24 month. This, combined with the fact that homeownership rates are down, mortgage guidelines are tighter and foreclosures are up will fuel the investor market even more.
3. The new Congress will investigate the role of Fannie Mae and Freddie Mac in the housing and financial crisis, and Barney Frank (who will be sitting on the panel) will give me some precious sound bytes for my radio show.
4. Home prices will drop another 5% nationally, but home sales will increase over 10%.
5. Media coverage of the economy will turn overwhelmingly positive, as both political parties and their allies in media have the incentive to improve consumer confidence. This is the first time in 10 years that neither party is motivated to drive the economy down in order to win the next election. Both want it to improve and both will claim credit for it.
Let me know what you think.
1. One in four home sales in 2011 will be purchases by investors.
2. Reports will come out shortly that over 1,000,000 new rental households were created in 2010. That’s close to 2,000,000 over the last 24 month. This, combined with the fact that homeownership rates are down, mortgage guidelines are tighter and foreclosures are up will fuel the investor market even more.
3. The new Congress will investigate the role of Fannie Mae and Freddie Mac in the housing and financial crisis, and Barney Frank (who will be sitting on the panel) will give me some precious sound bytes for my radio show.
4. Home prices will drop another 5% nationally, but home sales will increase over 10%.
5. Media coverage of the economy will turn overwhelmingly positive, as both political parties and their allies in media have the incentive to improve consumer confidence. This is the first time in 10 years that neither party is motivated to drive the economy down in order to win the next election. Both want it to improve and both will claim credit for it.
Let me know what you think.
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