Why Real Estate Prices might go up even higher!
I caught the National Real Estate Post (NREP) this morning. There are indications that higher housing prices are on the way. I feel higher prices are on the way due to coming inflation, but they had another reason.
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Per NREP the National Association of Realtors (NAR) says New Housing Starts are only at about 60% of what they need to be. This means there will be even more demand on the resale market come spring.
So why are new Housing Starts not where they should be? I am going to throw out several reasons I caught on their post and elsewhere:
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Financing for new housing construction is hard to get.
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Financing is hard to get due to financial reforms designed to help the consumers. (Yes our government is filled with idiots and the more they do to help the more it seems to cost everyone.)
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A shortage of workers in the home construction fields.
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There is a shortage of workers because the skilled blue collar works are being drawn to even higher paying jobs in the oil/gas/energy industry. (What can we learn from this? Skip college and buy a Skill Saw!)
What is the upside of all this? Buy a house now!
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