According to Kathleen Howley at Bloomberg Businessweek, the most affordable real estate in a generation is failing to lure buyers as some Americans are souring on the idea of home ownership. At the end of 2010, the share of people who said a home was a safe investment dropped to 64% from 70% in the first quarter of 2010. The December 2010 figure was the lowest since this survey started in 2003.
Many experts feel that the magnitude of the housing crash is the main reason some people view home ownership in such a negative light. Some potential consumers will never buy a home, even as the economy continues to improve. The people will be the ones left behind as the market recovers and great buying opportunities dry up.
It is clear that now is a great time to buy-in and watch your investment grow. Rates and prices are at all time lows. There is risk involved in any investment and the housing market is no different. The market is flooded with investment properties that will yield a positive cash flow and properties that are heavily discounted. With less people in the US ready to or in a position to buy, buying a home or investment property right now is a no-brainer.
As hiring picks up and people have a greater willingness to buy, the market will begin to shift. Savvy buyers and investors will take advantage now and not less this rare opportunity by-pass them.