Property investing condition in 2013

Property investing condition in 2013

One of the areas hardest hit during the economic crisis in America has been the housing sector. The current state of the US housing market can be difficult to gauge, with hyperbolic reports infiltrating internet searches about all of the reasons that the housing market will fail completely, it is hard to know if it is really that bad, or worse.

There have been many ups and downs in this economic climate, and each region has a different outlook.  In some ways, the housing market has never been this open to change and innovation, and some would argue that it looks to be recovering, albeit slowly. For first time home buyers and property investors especially, the current market has provided some positive opportunities.

Government Assistance - Property investing condition nowadays

Many Americans have been struggling to pay their mortgages, and despite attempts at government assistance, many are left stranded and without financial help. However, first time home buyers were recipients of the recent government aide in 2009, 2010, 2011 and 2012, and were given more incentive to stimulate the market. This worked in favor of many who were reticent to buy new homes, and worked as a small buffer for the market for a little while. Many citizens were able to buy a discounted mortgage and afford a home before they thought they would be able to.

Investors Provide a Floor - Property investing condition in 2013

The housing market troubles have also benefitted property investors in some ways. Many investors have been using this time to start buying property and building portfolios. Many property investors are gathering land and housing in order to rent it when the housing market improves. The renters’ market has also become more varied and has improved its outlook during the housing market crisis, as more and more people are renting homes and apartments. This is good news for renters and property owners. As more people turn to renting instead of buying homes and apartments, property owners have fewer empty units and are able to earn and save money, while renters have more options to choose from than ever.

Regional Differences - Property investing condition now

Since each region has a different outlook and faces unique problems and prosperity at various times, if you are a property investor or a new homebuyer, you will need to consider each region’s profile separately. For example, San Jose has shown a dramatic increase revenue and growth in the housing market, while Nevada and New Mexico are still hemorrhaging in the marketplace with loss of buyer confidence. Despite the bad news, some cities are doing surprisingly well in the current economy. Forbes outlined a list of the top 10 cities where the housing market has seen an improvement in recent years that includes Pittsburg, Pennsylvania and Rochester, New York. In fact, even Phoenix, one of the hardest hit cities in the original housing market crisis, has also shown recent improvement in the housing sector.