photo via Bitterjug
I was reading an article in the Sunday Triad Homes section of the Greensboro News and Record. One of their columnists, Jim Woodard, answered the question, “To what extent will home values rise in the next few years?” I love his answer!
He quotes Dennis Torres, Pepperdine University School of Business and Management director of real estate operations, as predicting that there will be a sudden upswing in home prices by 2015. He goes on to say that housing will return to a robust market by that time and that rampant inflation could increase home prices. “In 2015, homes will be worth twice what they are today and by 2018 a home will be worth three times as much as today,” he projects.
His prediction is that home values will increase faster than inflation. Well, we’ll just have to wait to see if he’s right but how exciting for all homeowners if he is! Buy now, buy low and hold on!
