Blog Post written by Mike Nelson, President of Excalibur Home Management, LLC
According to research performed by Zelman & Assoc. the U.S. is experiencing annual growth in the number of households being created of 1.5 million per year. In a “normal” market we would need to increase the number of homes (apartments, houses, etc.) available at the same rate. Obviously we are not in a “normal” market. Today we have over 1.5 million vacant units. We are only building about 300,000 new units per year. And we still have several hundred thousand units that still need to go through the foreclosure pipeline (it’s difficult to estimate a precise number). At this pace we should be able to fully absorb these vacant, and soon to be foreclosed, units around 2015.
All of this assumes we don’t experience any other significant economic “hits” like a collapse of the European economy, significant natural disasters, or a significant increase in inflation. In short, it will be a while before we get back to normal.
That’s why this could be a great opportunity for you. If you have some cash, this is a great time to buy a home or invest in a rental house. You are familiar with the expression “buy low, sell high”? Well, this is LOW. Don’t miss out. Give us a call so we can help you find a great deal! Call Excalibur at 678-825-0425.
Blog Posted by John Durham, Marketing Director with Excalibur Home Management.