The National Association of Realtors (NAR) reports that first-time homes buyers aged 25-45, accounted for nearly forty-five percent of all home sales between January and July of this year.
A thirty-five year old business analyst, George Jaramillo from Atlanta, Geaorgia calls this a "historic time". He recently purchased three homes. Two of the properties were foreclosures. He stated that he saw this time as a great opportunity to invest in the future.
T. Rowe Price recently conducted a study which highlighted that investing in real estate when prices are low can result in substantial gains in the future. The report points out between the years of 1970 and 1990 the annualized rate of return for the Standard & Poor 500 was eleven point five percent. Christine Fahlund with T. Rowe Price emphasized that this is the time for younger investors to stay in the matket.
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