Times are changing for the better. Los Angeles now has two NFL Football Teams, home prices are back to the peak of the market, interest rates are finally on the rise and home ownership it once again the American Dream for the citizens of our nation. The news only gets better. The stock market is on the rise and there is stability in the housing market. All of the major banks are requiring good credit scores in order to secure their financing. There are no longer a fear that lenders will be creative and allow an artificial bubble to be created. Our youth are quite sensible and buying within their means. Millennials, those born between 1982 - 2004 also called Generation Y, is the larger than the Baby Boomer Generation. These smart, savvy and highly educated group represents the next best hope for our nation. They have sat out the recent recession and are now ready to be the driving force of strength for our housing market. They are convinced that it is now the time to stop renting or move out of their parents homes and become home owners. This bodes well for our communities, neighborhoods, schools and nation's future. The more we all participate the stronger we become as a nation.
Facts about the future of home ownership that you should know:
1)Three Million additional housing units are needed by 2030
2)California's population is nearly 40 million but there is only enough housing for 25 million
3)The Department of Housing and Community Development says the state must build 180,000 housing units each year to keep up with the population growth. Currently the state is only building half
4)Our States 2015 median home price is more than double the nations at $502,250
5)Average home rental costs are 50% higher than the rest of the country
6)The states home ownership rate of 54% is among the lowest in the nation7)The housing shortage costs the state more than $140 billion every year in lost economic output.
Owing a home and an investment property makes sense for our financial future. Let's meet to either see homes or list your home for sale. Inventory is low, homes are selling fast at top dollar.
Presented by your friends & Realtor,
Tony & Dani Lewis RE/MAX of Valencia
Call/Text us at 661-510-7975