We have all read the headlines predicting doom and gloom. We have all encountered clients that are holding off on their largest (and safest) investment due to the fears these headlines create. Wouldn't it be nice if the people who wrote the headlines understood even a little economics? Copy writers notwithstanding, lets help ourselves and take a quick refresher course in the law of supply and demand.

The population of the United States has reached 300 million and is still growing 1% per year. That makes us the fastest growing industrialized nation in the world and the only developed country in the top ten for annual population growth. By 2030 that number is expected to be almost 365 million.

Where, you might ask yourself, are all these people going to live? If you guessed the sun belt you win the prize. Nevada and Arizona are expected to lead the way with over 80% growth. How will California do? The country's most populated state - with half again as many people as Texas, the next closest - is projected to see almost 30% population growth between now and 2030. California will retain the title of "the most popular State"

What does all of this mean for our homeowners and investors? Despite the best efforst of the doomsayers and newspaper sellers, it means that the most basic of all Real Estate laws should be well heeded: Prices are dependent on supply & demand... and God isn't making any more land.

To see the report on US Census Bureau projections, go to the link below.

To Your Success,

Sean Purcell