Well, well, well… what an interesting year 2013 is shaping up to be!
The U.S. is still, at least according to the U.S., the world's largest economy. Super!
Of course, U.S. gross national production includes the value of goods and services Americans produce regardless of their location – even overseas! But where do those employees live, rent homes, and spend money with local businesses (who rent homes and office space locally)?
Real estate investors typically care where the people are because people and their income is what gives real estate its value. After all, there's lots of land on the moon, but it isn't worth much because there aren't any people there… at least not yet!
I just locked down a 2.875% interest rate, fixed for the 15-year term of the mortgage. No points. With rates like these, I find myself rethinking the idea that I want to pay off my mortgage.
You’ve seen the headlines. The combination of lower prices, increased rents and a weak dollar are drawing investor capital from all around the globe and funneling it into American housing. According to NAR, foreign investment is US real estate has increased by 20% in the 12 months ending march 2011, totaling $82 billion in just one year. What’s missing in most of these stories is why.
