As savvy investors become increasingly aware of the trustee auctions, I have seen the high bids increase 3 to 4 % since the end of 2011. Regardless, my investors are as eager as ever to aquire rental housing at the Arizona trustee auctions. They are primarily buying to hold for rental, which is possibly the best investment opportunity in decades.
Yesterday, Karen Aho of MSN Real Estate reported:
First was the report in February from the federal Center for Housing Policy, which revealed that an astonishing 1 in 4 working households in America — around 10.6 million families — spend more than half of their pre-tax income on housing, a level that experts say is unhealthy, if not impossible, to sustain.
Then on Tuesday came the latest exhaustive and dismal data crunch from the National Low Income Housing Coalition: "Out of Reach 2012," which finds that in no community in America is it possible to reasonably make the rent on minimum wage. In 86% of counties surveyed, even the average pay of tenants, which is about twice the minimum wage, won't cut it.
The investors I represent at Arizona trustee auctions are aware that housing is a commodity which will not lose demand, regardless of the turmultuous economy.
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