Residential real estate is one of the viable investment opportunities that are driving the US economy forward. A good number of US citizens have always desired to realize the much celebrated American dream by engaging in property investment. While several individuals have succeeded in owning a home, others are still in the process.
Residential investment vehicles give investors the opportunity to purchase or sell all kinds of homes such as apartments, condominiums, terraced houses, cooperative houses, duplexes, and so on. Such investment opportunities are always available in many of the states. Buying and selling of such homes are always ongoing in various cities located in the US.
All over the US, there are agencies and individual agents helping people to invest in the residential real estate business. There are also various online real estate listing services that help home sellers to advertise their properties. A good number of US citizens get involved in the residential real estate business on regular basis. This has continued to help the US economy in diverse ways.
The Important of Residential Housing on the US Economy
Ever since the days, the economic recession that sparked off during the September 2008 financial crisis, residential real estate has continued to remain one of the most viable tools that still drive the US economy forward. Since the recession ended in 2001, it has also been the primary driver of the US economy. Lots of cash returns have always been realized for the US economy through the residential real estate business. The bulk of the money comes from property taxes which most homeowners pay yearly to the government in order to protect their properties.
The residential housing business has also generated lots of employment opportunities for US citizens. Many young guys are now making ends meet by working as agents in their various cities. Many contractors, land surveyors, loan officers, and others have also emerged. They have a lot to do in the residential real estate business. In most cases, they help home buyers to realize their dream while the US economy continues to boost in the process.
Housing for US citizens has continued to play an integral role in the US economy. The more several houses are provided, the higher the property tax multiplies. This ensures a regular flow of income in the US economy.
There’s also a growing interest of non-US citizens in the housing business in the US. Several investors from other countries of the world are given enough room to purchase all kinds of homes in various states. This in turn drives the US economy forward.
Indeed, the future still holds a lot for the US economy. The residential market is actually booming. More good reports are also in the pipeline. The US economy will continue to grow higher as the real estate market thrives. The economy is still reluctant to have increased housing values, as the property foreclosures inventory is still high.