When yahoo!finance (the exclamation point is part of the title) puts residential real estate at the top of their feed, a fair number of Costa Mesa readers are apt to come across it. Last Thursday, such was the case with the commentary, “U.S. will ‘become a renter nation,’ says real estate investor.” The report was offered by a reliable reporter, Sarah Paynter—and since the byline included a promise that time-crunched readers would welcome (“2 mins read”), Costa Mesa web surfers probably checked it out.
The real estate investor quoted in the title was making the point that the current historic high residential prices are making homeownership more and more difficult for many to afford. “If you keep pushing prices, you’re pricing people out,” was his unarguable point. The trend was the inevitable combination of high demand, low supply, and low mortgage rates (by week’s end, Freddie Mac was quoting 2.87% average rates on 30-year fixed loans).
Included was one statistic that was sobering (although no source was cited): “...for every $1,000 price increase, some 150,000 buyers are priced out of a home purchase.”
That gave substance to the headline—which summarized the housing investor’s final conclusion: “We’re going to become a renter nation in this country…Renting will become the economic choice…” Left unwritten was a logical consequence to that prediction: for some, it also means we’ll become a landlord nation!
For Costa Mesa investors with strong credit seeking to take advantage of the current lending environment, it’s not necessary for the entire nation to fulfill yahoo!finance’s forecast. All that’s needed is to give us a call to explore today’s many Costa Mesa investment possibilities!
We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at firstname.lastname@example.org