In a piece for HousingWire, Erica Hackmyer, a staffer for real estate lender LendingOne, pitches the case as to why now is a good time to invest in real estate.
The three reasons she cites – rising home prices, a growing rental market, and foreclosure levels at their lowest point since 2000 – are reasons why many builders and developers have enjoyed success this cycle.
According to data from Black Knight Financial Services, the number of foreclosures in 2000 exceeded 114,000. In 2016, there have been less than 80,000 so far. These numbers should further prove how the economy is seeing a change for the better, another indicator for investors to try and get into the business while the market still is primed for it. Less foreclosures mean homeowners have the money to pay their mortgages so banks aren’t coming in and taking away their investments.