Historically real estate has been a wise investment! In these unprecedented times, there will be opportunities. Houston’s underlying economy was strong with the exception of the energy sector. Unemployment was low beginning in 2020. In addition, interest rates are at an all-time low!
Although we will be in a recession, economists anticipate the recession to be deep but short. This will afford an opportunity for investing. In addition, there is thought that just as Houston has become a destination for those seeking relief from harsher climates, many may now seek relief from denser cities. Our lifestyle involves driving cars. With more space than most, our homes and workplaces allow us distance, we will be a destination. (I recall showing a Memorial home to a New York couple who asked “What do you do in this big bathroom”!)
Times like this test our market. However, you may be able to buy a property at a lower price, and sell it when prices rebound. The opportunity to lease the property generates revenue. For those who have bought rental properties over the years, there can be a nice cash flow to supplement other income, especially in retirement.
We will emerge from this stronger and better equipped for the future. After spending so much time in our “safe place”, we will all appreciate the value of home!
Beth Wolff Realtors Real Living
1775 St. James Place, Suite 100
Houston, Texas 77056
713-622-9339 x103 (Office)