Some investment research firms are saying that now is the best time in history to buy a house. Given the state of the current economy, you may do a double-take at this news, but here are the facts to support the statement...
1. Mortgage rates are the lowest in U.S. history -- According to Global Financial Data, who has tracked statistics on mortgage rates going back to the early 1900's, mortgage rates are at the lowest they have been ever! The only time they've been even close to this low is the period just after World War II. When you correlate these statistics with housing prices, you will see that this also heralded the greatest postwar boom in housing prices ever, by far!
2. Housing prices are still low from the economic downturn -- According to the Housing Affordability Index, home prices in the U.S. fell by about one third. And, according to real estate guru Mr. Allen Tate and Allen Tate Company's Mr. Pat Riley, we hit the bottom for the Charlotte region around October of 2010. This makes early 2011 a prime time to buy real estate before the prices start the slow climb back upward.
If you still have a job and are looking for a great investment, these compelling facts tell us that housing is still a great investment, and this could be the best time in American history to put your money into real estate!
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