Today’s good news comes to us from Reverend Mark Boud of Real Estate Economics, whose gospel is shared by writer Gil Weinreich of AdvisorOne.
…a top real estate industry consultant offers a far more encouraging big-picture view of the key economic sector. Mark Boud of Real Estate Economics in Irvine, Calif., said he believes home prices may have finally hit bottom, that the foreclosure mess creates genuine business opportunities and that energy-efficient housing has the potential to revitalize the entire economy.
Ministering with a trusted name like “Real Estate Economics,” you just know that you can trust everything Mr. Boud preaches. So where are the best opportunities to take advantage of this impending revitalization?
Investors seeking to capitalize on a turnaround in real estate should look for markets that are both undervalued and have long-term potential for economic growth. “One of the most undervalued markets is Phoenix, which is significantly undervalued and is experiencing job growth. In terms of rental support, economic growth, it’s a good long-term bet. Coastal California is a good near term and long term bet,” says Boud, noting particularly the San Francisco Bay Area excluding the East Bay and Silicon Valley.
Seattle and Los Angeles are also poised for a rebound, he said. Places like these that are “supply-restricted” tend to snap back fairly quickly if they have a strong economic base.
Okay—Phoenix, the Bay Area, Seattle, and LA—Got it! But what does this mean for the long term, and for the economy as a whole?
Aside from short-term investing opportunities, Boud is most enthusiastic about the long-term, saying, “There are drivers in place that can create an economic cycle such as we have never seen.” Just as the world has seen an industrial age and an information age, the next wave will be an energy age, he says, arguing that energy-efficient housing can lead the way.
Preach it, brother! Roaring economic recovery just around the corner, prosperity and equity for all!