Construction is up. Construction is down. Housing prices are falling (or not). Who know where business is headed? For our part, we believe that residential real estate is on a course of sustained demand. We are less clear about implications for value and construction, but demand is bound to go upward with the demographic pressure we see as long as the economy doesn't implode.
- Boomers are entering a period of increased rentership.
- Lending requirements are tightening.
- Construction has been muted for years and stands to remain so.
We believe smart investors are planning to buy residential real estate. Deals need favor strong loan to values based on very conservative value estimates. All equity produces a lot of security for the investor and may be prudent given the recent unreliable behavior of bankers.
Our advice, plan to invest, invest, hold your investment, and look to invest more.
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