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DON’T PANIC!!

After the events of the past few weeks, we could be forgiven for believing that life as we know it is coming to an end and only a fool would be investing in real estate. But it might serve us well to take a closer look.

We currently have a situation in Las Vegas real estate where the prices are still down but the sales are going up. Be warned that this state of affairs can’t last for long!

Consider the figures from the US Census Bureau, who last month released their population projections for the next few decades. Across the US, we are expecting an increase in population of 135 MILLION by the year 2050. To put this in perspective, it could be equated to the entire populations of Mexico and Canada moving to the United States. We will need around 52 million new housing units, which makes the current inventory (4.4 million) look really rather small! So we can rest assured that the available inventory will be eaten up, and so many more homes will be needed that there will be a new housing construction boom.

Obviously some parts of the country will pull out of the slump a lot quicker than others. The places that will recover quickest are of course the places where jobs are being created, since populations always move into areas of high employment opportunities. So, look where jobs are being created and you’ll get an idea of the best places to invest first.

In addition to the actual increase in population, we also have the ongoing phenomenon of a gradual but steady movement of populations from the north and east parts of the country towards the south and west - excellent news of course for Nevada, Arizona and California!

Altogether, the purchase, during the next few months, of a cheap home in Las Vegas could prove to be a very smart investment indeed!