U.S. Real Estate: One More Nosedive … and Then Prosperity Galore

According to financial advisor, Larry Edelson, property prices in the U.S. are still overvalued in most regions of the country. Therefore, another nosedive in real estate is likely, despite reports that the Florida housing market isn’t even in very rough shape at the moment.

But this expert has a prediction: Sometime next year, after the dust settles, real estate will be one heck of a buy. He would encourage readers to look into a Florida home mortgage right now.

Why? Because there are three things that most analysts don’t understand about real estate:

1. Land is in limited supply. And good locations are in even more limited supply. Waterfront property is the best example.

2. Construction and replacement costs are rising rapidly. Six years ago, the author built a new home in the Palm Beach County housing market at a cost of roughly $65 per square foot of air-conditioned living space. Today, the exact same construction would cost nearly twice that because of rising prices for everything from lumber to paint.

3. Overseas investors with money are ready, willing, and able to buy property in the U.S. As the dollar continues to fall, these investors will switch from stocks to gold and real estate.

In short, by this time next year, he expects foreign investment to start pushing up U.S. real estate prices, especially in areas like Florida, Arizona, Las Vegas, New York, and California. That’s why a Florida mortgage, especially with low current rates, might be the most fiscally sound decision you can make right now.