The Pitch – Is purchasing a home still a good investment.
Jennifer McClelland | RSS | 6 Comments
Do you think purchasing a home is still a good, solid investment?
Question:
Home prices have been hitting new lows all year and people are losing their shirts in real estate. With sub prime lending, maybe, behind us, do you think that going back into home buying is a good investment?
Answer:
Sure. Once this recession is over, homes will once again be a safe investment. Historically, homes have always been a good investment.
Right now the market is low and it is a buyers market. If you were looking into getting into the real estate market, now is the time to do it. Some markets are down far less than others and it would be a good time to get into any of the markets that have experienced a lot of decline like Phoenix, Arizona.
If I had the money to get into real estate right now, would I? Probably, but I am not really willing to be tied down to one place right now.
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Tags: phoenix arizona, investment question, solid investment
Adam | Tue, Jun 02 2009
I think it really depends on what market you’re in. Right now in most markets cash is king while more debt can only seek to cause more harm. Take many suburbs in the Midwest, for example. Places like Cleveland, OH are at an all time low in housing with homes above 2000 sq ft selling for less than $100K. I honestly don’t think a market like that will ever recover. While other major cities haven’t really felt the crunch yet. Typically, if you buy in a big city like Chicago, you won’t end up loosing any money on your investment.
Sanders | Wed, Jun 03 2009
I think it depends on the market. In Greenville SC it has stayed the same through this mess. In some areas even rising.
Fab | Thu, Jun 11 2009
I don’t think its the key investment but I don’t think it will ever be a bad investment. Property – no matter what the economy – has always had an upwards curve. Anything with that kind of history is worth investing in.
Jim | Thu, Jun 11 2009
Your money is far safer in a real estate even while values are dropping than in a bank or in a Wall Street investment!
aditya from Corporate housing new york | Wed, Aug 12 2009
I agree with the answer. I thinks it’s the right time to invest by buying a home. At this time the prices of houses are at all time lows and after the recession it will surely increase.
RESH from home exchange | Fri, Nov 06 2009
I think yes because if you are investing for a new home then it will be yours for your whole life, so after a couple of years you can get a lot of money for that investment. So it is the only way to make money easily.