The Housing  Market Update - by Linda Pillard

The last few years in the housing market  has really been a roller coaster. Now fewer people are going after the American dream.  Home ownership is at its lowest in 20 years. The housing market is down due to a slow economy, banks making it harder to secure a loan, and wages continue to be stagnant.   Stats show that it has not been this low since 1995. I ask where are the first time home buyers??  The response I hear is that they are living in the basement of their parent homes because they are having a hard time finding a job. 

However, foreigners are purchasing homes in America for all cash and renting them out.  Therefore the rental market is strong and it's a get time for the investor to buy.

New homes being built are down while multi-family homes being built are up! We certainly live in a new world of Real Estate.