When yahoo!finance (the exclamation point is part of the title) puts residential real estate at the top of their feed, a fair number of Western Slope readers are apt to come across it. Such was the case with a recent article commentary, “U.S. will ‘become a renter nation,’ says real estate investor.” The report was offered by a reliable reporter, Sarah Paynter—and since the byline included a promise that time-crunched readers would welcome (“2 mins read”), Western Slope web surfers probably checked it out.
The real estate investor quoted in the title was making the point that the current historic high residential prices are making homeownership more and more difficult for many to afford. “If you keep pushing prices, you’re pricing people out,” was his unarguable point. The trend was the inevitable combination of high demand, low supply, and low mortgage rates over the last couple of years.
Included was one statistic that was sobering (although no source was cited): “…for every $1,000 price increase, some 150,000 buyers are priced out of a home purchase.”
That gave substance to the headline—which summarized the housing investor’s final conclusion: “We’re going to become a renter nation in this country…Renting will become the economic choice…” Left unwritten was a logical consequence to that prediction: for some, it also means we’ll become a landlord nation!
For Western Slope investors with strong credit seeking to take advantage of the current lending environment, it’s not necessary for the entire nation to fulfill yahoo!finance’s forecast. All that’s needed is to give us a call to explore today’s many Western Slope investment possibilities!