Real Estate Can Boom If Interest Rates Stay Low
Sjuggerud cites Bill Gross, bond expert, who believes that 10 year bond interest rates could stay low for the next few years. Bond rates determine the mortgage interest rate.
If the interest rates stay low, people will buy houses because they don't know what else to do with their money, because bank interest rates are so low.
The Las Vegas housing market is perfect now for investors. Home prices are affordable and well under 2008 peak prices. The local economy is growing at a steady pace, about 2-3% per year. Homes are appreciating at about 8-11% per year. New home builders are wary and not overbuilding. Tenants are plentiful and rents are affordable. Now is a good time to invest in Vegas!
So, essentially, you haven't missed this market!!