Real Estate Investment Trust Taxation Seminar
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Some ” mixed ” news was announced by the Public Associations for Realtors today. But I think the news is FAR more positive than negative.
First, the ” bad ” news: In February, median home prices took a sharp dunk of 8. 2 % nationally. Remarkably, the carnage in the real estate market continued last month with a retribution, as that drop is the sharpest in history.
But the silver wrapping is this: Buyers are returning to the market.
Modern home sales increased 2. 9 % in February. That ‘ s the first time in six months that there ‘ s been any positive movement in current home sales. This suggests to me that the prices are becoming too good for buyers to overlook. And that ‘ s a very positive phenomenon for the U. S. ( and world ) economy.
You may spot from my previous articles that I have a gut - level optimism that things are going to get better in our economy pretty soon. I think this report is a good image of that.
In any market scenario, an increase in buying that intersects with a extreme price decline can be explained in one ( or both ) of two ways: ( 1 ) The market decline has begun to slow and will soon be at a craft or ( 2 ) The market has hit vessel and already beginning a recoil.
I question the second possibility. I don ‘ t expect we ‘ ll see a screaming real estate market like we did earlier this decade, but I do expect the market will begin a new uptrend of rational growth. Again, this is mostly my gut - feeling conjecture, but it ‘ s what I believe. And it ‘ s the assumption upon which my money is being invested.
Bryan Ellis is a real estate investment strategist in Atlanta, Georgia.
Take a look at Bryan Ellis ‘ Blog for a very unique look at the economics of the current real estate market.