Billionaire industrialist Andrew Carnegie once said that 90% of all millionaires earned their fortune through real estate investing.
Real estate investing continues to be one of the best ways to make money and grow wealth.
Tax benefits, appreciation, diversification, and a hedge against inflation are just a few reasons people invest in real estate. Many like owning tangible assets rather than stocks or bonds.
For investors, there are plenty of choices, including single family properties, commercial real estate, and Real Estate Investment Trusts.
There are properties available across a wide range of budgets. For example, a mortgage for a home in Virginia Beach, VA with a median housing price of $310,000 will be significantly less than a home in Ventura, CA where the median price is above $700,000, or in San Francisco, which now boasts a median selling price of $1.3 million.
Let’s take a look at the different types of real estate investing, check on the current status of markets, and hear what some experts have to say for each.
Investing in Single Family Properties
Home values in the U.S. have skyrocketed over the past year. The median sales price for a home in May 2021 was slightly more than $350,000 and a median sales price that was up 23.6% from a year ago, according to the National Association of Realtors (NAR).
With mortgage rates still at some of the lowest levels in the past 50 years and pent-up demand after a year of living with the threat of COVID, most experts predict at least another year and a half of rising prices.
Not everyone agrees. A recent survey revealed that 41% of those responding predicted the housing market bubble is set to burst sometime in 2021 and start prices on the downward slide. More than a quarter felt downward pricing would not occur until 2022 and 13% did not forecast another housing market crash.
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