Reasons why real estate may likely improve in 2011
Here are five reasons why consumers should consider a home purchase next year:
▪ Mortgage rates will probably stay low: Even with rates climbing — possibly as high as 6% by 2012 — they are still well below where they have been historically.
▪ Tax cuts: Extending the tax cuts could possibly encourage a more rapid recovery for our economy.
▪ Every American wants to be a home owner: A recent Fannie Mae survey showed that Americans still believe a home is a safe and desirable investment.
▪ Builders will probably start building again: Builders have been sitting on the sidelines. This year, the builders think pent-up demand may create an appetite for new homes.
▪ Homes are shrinking: Homes are getting smaller, which can make them more affordable.
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