Real estate in the US took a very big hit in 2008, the mortgage crisis almost created a global recession similar to the 1930s. But after almost a decade, the US economy is back on track. Multiple cities are boosting growth in jobs and a growth in population. This creates a good market for real estate housing investment, and there is also an increase of foreign investor in different cities in the country.
Economists know that an increase in job creation gives people money to spend. This equates to more spending of goods and services. This is what powers a good economy, and though the mortgage crisis was created due to predatory lending by banks and other financial institution the federal government has implemented new laws to counter this. But this does not mean that any place in the US can be a good investment. So to help you choose which cities to invest in, here are 5 Cities good to invest in:
This populous city is a major center in the finance, commerce, culture and international trade. It is also a very liveable city with good air quality all year-round, has clean drinking water and a lot more vast green spaces. It is also one of the richest cities in the United States. But the best reasons why investors are starting to invest again in real estate housing in Miami are the following reasons:
• Job growth – According to the Metropolitan statistical, the growth rate from June 2016 to 2017 was about 3.2 and nationally the US Bureau of Labor Statistics reported an increase of 1.5%. Professional and business services reported that they added 19,400 jobs in June 2017; this is an increase of 4.6% over last year.
• Global Shipment of Products – Miami is also a global port city that has a connection to markets in Latin America and because of this, the city becomes a gateway between Latin America and Europe. This is ideal for investors because this means that the city will always have foreign investors.
Phoenix is considered to be the fifth most populated city in the US; it has more than a million people living in the city. And the city has been experiencing a population growth in recent years. They are also expected to double the job growth of the US average this year. With a subtropical desert climate, they have warm weather all year round. This makes it an ideal place for people to settle down and for investors to establish their business, A real estate housing is one of them, here are the reasons why:
• Population Growth – in the state of Arizona, Phoenix is the most populated city in the state. This means that there is a lot of market for businesses and investors.
• More Job – But jobs are on the increase in the city. The job growth last year for the city was 1.5% and is projected to finish the year with 2.8% this increasing trend in job creation gives a positive expectation for real estate investors.
Another city that has a great potential for real estate investing is Dallas, Texas. Mortgage rates and home loans are increasing yearly and continue to outpace the rest of the nation, making it an ideal place to start an investing in real estate housing. On the advice of mortgage lenders from Dallas Texas is still considered to be the best place to sell real estate. Homes are still undervalued and you have a great potential for high return of investments. Here is a few more reason why they invest in Dallas:
• Population growth - With a growth rate sometimes described as explosive. And coupled with an already large population, this presents Mortgage brokers Dallas Texas more opportunity to expand.
• Job growth – Dallas is also one of the country's job growth leaders. With a 3.9% job growth, last year and is still expected to rise this year.
Florida is an ideal place to settle down or to live in retirement. The tropical weather is ideal for establishing a good real estate business or investments. Orlando is fast recovering its Tourism, Agricultural, International Trade and Financial Services, and here are a few reasons why real estate housing is profiting:
• Population growth – Orlando is also one of the leading cities with a large population growth boasting a 7.2% three-year population growth. This means that it is fast becoming a very liveable place with more and more people moving in the city.
• Job Growth – Orlando is adding more than 1,000 jobs per week and is leading the country in job growth with a 4.4% annual job growth giving more and more people more purchasing power.
Charlotte, North Carolina
Though not a famously known for its real estate, Charlotte presents a budding real estate housing investor a great place to start. Also known as the "second-and markets", investors can still find affordable real estate and good opportunities for price growth. The investment may not be large but the growth rate here is slowly increasing. Here are a few reasons why they invest here:
• Job growth is slow but climbing at a paced rate. This means that there is still a lot of potential for business and real-estate.
• Population growth is slow but steady, Charlotte is still considered to be very friendly and safe. People want to lie here and start families.
To start investing in the real estate housing market, you can start by getting the mortgage for home buyers and renting out the house. You can then use the income you get from the rent in paying the mortgage on the house or as partial payment.