This article is about how long homeowners stay in their homes, the article recommends at least five years to get a good return. That would also be true of investors that lease their real estate. The key is buying in the right areas. The article comes from https://www.realtor.com/ by Lance Lambert.
""I'm seeing people bottled up in their homes because they have nowhere to move to," says Dowell Myers, an urban planning and demography professor at the University of Southern California, in Los Angeles. "We have burgeoning demand and an insufficient supply of homes for sale, which creates gridlock.""
Not building new homes from 2008-2016 really effected the housing market and will continue to do so for some time. Imagine not building new cars for 8 years YIKES!, that would make a used car worth a lot of money. That is how housing is effected with no new builds for 10 years it has effected and changed the real estate market.
Home owners and investors are seeing a lot more equity growth in the Cleveland and Phoenix areas, some areas are seeing as much as 6% growth. Both cities are building new homes that will help equity positions in the near future when the homeowners start reselling the new builds. In Pepper Pike Ohio a new build today is around $600,000, that is going to really appreciate homes in that city when they start reselling.
There are a lot of factors to why people stay put, and since I live in the Cleveland area I can attest to the lower cost of quality living. The prices in the Cleveland Metro are still below other major cities in the US. The weather is very underrated and most of the year is very mild.
Need Real Estate and an realtor that understands the areas and amenities in them? I travel the Cleveland Metro area to find my clients homes. Call 216-703-5740 EXP Realty Ohio and
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Thank you