Gerald’s Article Insights: “5 Red Hot Housing Markets”
Headlines like RED HOT HOUSING MARKETS are compelling and attention-grabbing, but it’s important not to lose sight of the fact that banks are still saddled with tons of foreclosures and pre-foreclosure properties. Because there are still so many homeowners upside down on the mortgages or behind on their mortgage payments, banks are deliberately manipulating housing inventories giving the impression that a housing recovery is happening. Ultimately, income drives everything and a long sustained housing recovery is not going to happen until the economy and people’s incomes start rising again. Do your homework and get intimately familiar with your local real estate market because every residential real estate market is different—each local market has its own property characteristics, its own regulations and its own landlord-tenant laws.