With the future of the economy still uncertain, and mortgage default notices being filed at breakneck speed, is there any reason to be optimistic about the real estate market today?
I guess that would all depend on who you are. For investors who can get their hands on some cash, this is a great market to be in. As the pendulum of supply and demand continues to swing higher and higher on the supply side, prices will continue to fall, which equals a great buying opportunity.
And not only that, but as more and more people are being displaced from their homes, the demand for rental property increases. Of course you, as the investor/landlord, will have to relax your rental qualifications some as many will have a foreclosure or default on their credit report.
Overall, it is still an unfortunate situation we find ourselves in. But for those who are able to take advantage of the situation, yet do not, only adds to the level of misfortune. The only way to turn this thing around, and for homes to start appreciating again, is to reduce the supply of inventory.
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