What Goes Up Must Come Down ... 2020
Well the Real Estate Market surprising inclined during the month of November with the pandemic and election. The low interest rates play a huge factor along with people retiring and either buying a second home or investment homes.
Into December now we will start to see a slow down into the first quarter of 2021. I do believe interest rates may rise in 2021 followed by a steady declined of values in the Real Estate Market.
The Real Estate Market is way overdue for a crash & or serious decline. But if the government continues to let foreigners come into America to purchase multipal homes with "CASH" it's really hard to say. Foreigners have been coming into America purchasing homes since the last Real Estate crash and either flipping them and or renting them out to people that lost their homes in the crash.
I find this very frustrating and at one time President Regan put a stop to foreigners purchasing percentages of cities across the country and foreigners coming in and purchasing homes with "CASH" but they have found loop holes.
I spoke with a Real Estate agent in Las Vegas 4-5 years ago that explained that her broker/owner was a young man that had a father that is a billionaire living in China. After the recent crash this broker would use his fathers money to purchase approx 100 homes in cities across the country with "CASH" from banks and rent them back to the Americans that lost them. This is quite disturbing and to think this was only 1 broker, add up all the brokers that may have did this and you do the math.
So that being said if the foreigners keep purchasing homes in America when the market swings up or down, they will slowly own all the real estate in the country. And the market may never crash again ... "But never say never"