So what is the Fiscal Cliff and what should we expect in regards to Real Estate?
As one presidential period ends, another begins- along with new laws and other possibilities for the housing market.
The housing market is projected to improve moderately in 2013, but nobody should mistake this for a boom. The gains in activity and prices will be a warm relief, but will leave many homeowners stuck or even still underwater.
Economists and realtors project housing prices to improve 1-3% over the upcoming year. This slow and sluggish recovery will show to be consistent, however. In fact, the real estate industry has the potential to reap man benefits from the world’s economic troubles. Foreign buyers have flocked to the United States markets, while the Federal Reserve Bank is expected to keep interest rates consistently low. This means that prices will continue to be stimulated by competition amongst investors just about everywhere as the upcoming year approaches.