Property growth in the USA! With this news we inaugurate our column, which today will analyze this phenomenon. As we have often anticipated, it seems that many people have abandoned the “convenience” of lease contracts, to go instead to buy and sell contracts. This is a difficult choice, especially if the protagonists are the young millennia-old.
But you know, this is the best historical period to invest seriously in real estate worldwide. But why does this turnaround seem to have incorporated the United States? Well let’s find out together, with this article signed Realigro ! We have carried out a careful analysis, examining the data collected by the main statistical institutes. For this reason, we will have a complete picture of the phenomenon, both qualitatively and quantitatively.
Let’s get started !
Why is this phenomenon noteworthy? The answer to this question must be sought in 2013. Why this year of all years? In 2013, the highest percentage of sales contracts was reached. This was significantly higher than the previous year. This significant level was guaranteed by the very low mortgage rates, which have persisted until this year, and have fallen even further. Therefore, 2013 was the turning point for the United States, which attracted a large number of potential investors, which then became effective.
What other factors contributed to the increase in interest in the United States ? A decisive role was played by the increase in wages for national workers. A key element was precisely that. The need for the Americans themselves to invest in the US brick (as a second home). More and more, it is the tenants who decide to take the big step, becoming owners. Partly because the market allows it and partly because it is less and less convenient to be renters.
A lease does not allow you to invest, but simply to remain anchored to contractual constraints. The convenience of being able to easily change home, is no longer a demand so much made by potential buyers. Instead, the desire is to enter the real estate market in a direct way.
The “active” population in terms of purchase and sale contracts is under 35 years of age. This fact makes one think, considering that it represents a real reversal of the trend.
But can we talk about a boom in US real estate in terms of contracts of sale ? Undoubtedly, the numbers are very good. But they still do not reach the figures of 2004, when, the historical maximum, was represented by 70% of the total houses owned.
But the steady increase from 2013 onwards bodes well!
Although we do not know what the results will be in the coming months, it is hoped that we will always be able to move towards better objectives.
If you are curious to find out more about real estate worldwide, you just have to stay tuned to our portal!
2005-2019 REALIGRO REAL ESTATE LTD. All Rights Reserved - VAT Nr: 893969932