Offlinehttp://money.cnn.com/2012/11/20/real_estate/home-building/index.html?iid...
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https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Further evidence that the housing market is set to rebound. All that is holding us back is unemployment. Watch for the numbers to start to drop and a tick up in consumer confidence and off we go!
Oh, I forgot the approaching "fiscal cliff". If they overtax the job producers (evil capitalists)no jobs will be created. Well, private sector jobs anyway. Might be some new Government jobs, but you can only pay them until you run out of other peoples money to spend. We could be headed for another recession and further dependence on the Federal Government. Until we run out of other peoples money to spend.
Thank God for the Republican House and good old checks and balances!
The next few months will tell us which way we are headed. The free market is primed for recovery. Will the government hold us back?
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
"The stronger-than-expected report came because of a surge in construction of buildings with five or more residences in them. Single-family home starts remained little changed from September."
From an investor I know..."Bullish on affordable housing...heard some interesting numbers... 470,000 new people each year for the next 10 years will become renters... 50% of Americans make less than $27,000/year (this # is growing). MH's are one of the most undervalued assets, cap rates 15% and much higher."
Unemployment isn't really a factor as much as the mentality of the masses is. 3 Million jobs go unfilled because employers can't find trained workers. If those jobs were filled, unemployment would be in the 6% range, so it's not a lack of jobs. The you didn't build that mentality fosters an attitude of people trying to get the most they possibly can for the least amount of work they can do while relying on the govt to even things out for them. Get ready for a nation of renters with low income and crappy credit. Who will buy the affordable houses? Sounds like a buy and hold cash flow scenario rather than banking on any kind of appreciation. Plus, how long can interest rates stay at historic lows? How long can the FED prop it up? Inflation? Anyone remember the 70's? Just my opinion and I may be wrong.
It's funny, but me and my fix/flip guys are KILLING it!! Properties are under contract in 30 days or less. Full asking price. Many of my old time buy and holders are selling there rental portfolios. How come? I guess they didn't read the "reports". Unless the government screws the thing up. Inventory of SFHs is DECREASING nationwide. Supply and demand will reign supreme. Unless of course the Federal Government kills the potential upswing. Now if they do away with the mortgage deduction THEN I will believe "the country is all going to be renters" BS.
So TRSD, the doomsday stuff could happen. We may turn ourselves into Greece. It won't be the fault of the free market!
Michael Mangham
Mentoring/ Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
We don't have a free market now...too much govt intervention. With mortgage money at historic lows, this market should be smoking. Unfortunately, there aren't that many credit worthy buyers. Those that are buying are buying properties rehabbed to the nines. Hence the demand for those wholesale properties. Supply is being constricted to prop prices up.
"Properties are under contract in 30 days or less. Full asking price"
Hmmm...sounds like 2005. Do you think the fundamentals are there to support such a market?
"Many of my old time buy and holders are selling there rental portfolios."
Why sell if the market is improving? Tax laws are changing after the first of the year as Obamacare goes into full force. Many investors are rearranging their affairs to save on taxes. Not only the 3.8% tax on unearned investment income, but who knows where capital gains rates will go with the new soak the rich mentality.
All real estate is local, but here is a national snap shot...
http://www.dqnews.com/Charts/Weekly-Charts/USWeekly%20Page.aspx
As I said, just my opinion and I may be wrong. But I like to give people a little insight as to why I see things the way I do.