Kelly Madruga

Is housing market cooling or in a full blown downturn and what’s next? Good news for buyers the housing market is cooling down and interest rates at this moment are still lower than the in the mid to late 1970-2000’s At around 5.75% apr it is still attainable. Many sellers sold their homes and chose to wait to purchase till market cooled. Their leases are now coming due. For many of those perspective buyers flush with cash who sold and rented are now ready to start the search to purchase again. Many are they still on the fence. Most people know that renting is not the most conducive to the freedom of knowing what to expect of ones fixed expenses (as landlord can raise their rent yearly) especially during a economic downturn. Real estate investments can be a great long term tool for retirement. Being a landlord is hard work and should be a carefully considered business venture. The stock-market is unpredictable and the U.S. government is spending at record breaking precedents. The jury is still out as to whether that will help the economy or not? What should you do if you are wanting to move and buy? That of course is completely up to you and your situation. The housing market has always been a long term investment with short term gains occasionally. Look to your long game. Where do you want to be in five ten or even thirty years? There is no crystal ball but there are statistics of housing markets trends. I suggest looking at those and making up your own mind. Your future depends on what you decide to do now.