Seems a little far fetched doesn't it. But, if you look at the numbers it makes a little more sense. Currently the average buyer is at the age of 30. There are 80 million echo boomers (people between the ages of 18-31) that will be entering the real estate market within the next few years. That's a potential of 80 million new buyers.
Currently many people are under water on their home and simply cannot sell if they wanted to. New construction has almost come to a full stop since the peak of the market. Also, now people live longer than they used to, so odds are they will be staying in their homes longer.
With all these new buyers and the lack of inventory all signs point to a shortage. It simple economics, the law of supply and demand! With the way the current Schaumburg Real Estate market is you can pick the home of your dream at a cheap price, with low rates, and take your time doing it. It a little more time you may not have the luxury. Do you really want to have to pick your second choice because you waited too long?
Currently many people are under water on their home and simply cannot sell if they wanted to. New construction has almost come to a full stop since the peak of the market. Also, now people live longer than they used to, so odds are they will be staying in their homes longer.
With all these new buyers and the lack of inventory all signs point to a shortage. It simple economics, the law of supply and demand! With the way the current Schaumburg Real Estate market is you can pick the home of your dream at a cheap price, with low rates, and take your time doing it. It a little more time you may not have the luxury. Do you really want to have to pick your second choice because you waited too long?
We are in a very unique market that no one has ever seen before. The fact is even though the Schaumburg Real Estate market will see a shortage prices will most likely not go up. It sounds a little weird doesn’t it? Once again we are in a very unique Schaumburg Real Estate market and there is a very good explanation. We are still in a slow economic period, people are scared about their jobs and wages are going down. Some people that used to make 200k per year are taking less of salary so they can have a job.
As of now the Schaumburg Real Estate market has not quite begun to pick up so it is still an amazing time to get a great home at even better price. Do you ever remember hearing your parents or grandparents say I remember when I could have had that home for 50 thousand dollars back in 1947. Do you want to be the one saying that or do you want to say I bought that home for 200 thousand dollars and it’s now worth double. Now is the time to be doing that! All sign point to this being the greatest opportunity to purchase a home ever!!! Don’t be reactive be proactive. If you have any questions feel free to contact me at 847-477-9474 or visit my website at www.AaronWittenstein.com
