Whether you are a brand-new investor or have been buying real estate for decades, it’s important to stay flexible while focusing on your overall goals.
Why flexible? Because the market is constantly changing. When the market changes, new strategies/opportunities come to the forefront. Of course, if you have been in this game for a while, you know nothing is new. Old strategies are just being recycled with a new flair. Remember bell bottoms and paisley patterns from the 70s? They are back, baby!
So what is happening now? Affordability is the rallying cry. Gen Z and Millenials move into their own “pad,” as Airbnb, VRBO, and short-term rentals become increasingly popular, the housing supply is undoubtedly tighter. Prices are rising and sometimes out of reach.
It’s just supply and demand. As demand increases, supply decreases, and prices for rent and purchasing go up. This is good news for builders and re-developers, especially in urban areas where older stock can be renovated and reconstructed to meet the needs of young people who enjoy the amenities of downtown living.
Read More...