FORTUNE MAGAZINE: Forget stocks. Don’t bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.
Fortune magazine who early on said there was a bubble in real estate is now saying it is time to buy again. Here is an excerpt from their article:
From his wide-rimmed cowboy hat to his roper boots, Mike Castleman fits moviedom’s image of the lanky Texas rancher. On a recent March evening, Castleman is feeding cattle biscuits to his two pet longhorn steers, Big Buddy and Little Buddy, on his 460-acre Bar Ten Creek Ranch in Dripping Springs, a hamlet outside Austin in the Texas Hill Country. The spread is a medley of meandering streams, craggy cliffs, and centuries-old oaks. But even in this pastoral setting, his mind keeps returning to a subject he knows as well as any expert around: the housing market. “I’m a dirt-road economist who sees what’s happening on the ground, and in 35 years I’ve never seen a shortage of new construction like the one I’m seeing today,” declares Castleman, 70, now offering a biscuit to his miniature donkey Thumper. “The talking heads who are down on real estate will hate to hear this, but America needs to build a lot more houses. And in most markets the price of new homes is fixin’ to rise, not fall.”
For a link to the article click below:
So many of our clients are looking for signals on when to stop waiting… ie: “time the market”, I thought this article offers some good insight.
Scot Campbell is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA. He has been a licensed broker for over 21 years and has sold over 1000 homes and just about every type of transaction imaginable. View his website: www.RealtyDigestOnline.com He can be reached at 714-960-0700 or Scot.Campbell@ColdwellBanker.com