In the News – Where the Next Real Estate Bubbles are Inflating
Buying into the real estate market in populated cities can be very risky but also very rewarding. In a recent news article by John Wasik in Forbes he explains that real estate in populated cities get more and more expensive because they are in such high demand.
For example, in cities like New York, prices rise because natural, geographic obstacles inhibit new growth. This then increases the demand for real estate despite the still small market. Although location may be your top priority when investing in residential real estate, it could take you a very long time to find the perfect space for your new home within your desired budget. Not to mention if you have to compete with other residential real estate investors who also want that same apartment or home!
Wasik goes on to show that Hong Kong and Tokyo may be booming metropolises, but they are not practical for the time and investment they require unless you need to live there for work. Fortunately, we live right next to the great “Windy City”, Chicago! While Chicago is on the list for most valuable cities, it is not nearly as expensive to invest into the real estate market here as it is in other cities. Plus, investing could take you only five years or less whereas it could take upwards of six years in cities like Los Angeles and Boston.
If you’re looking to buy into residential real estate in popular cities, don’t let the high demand stop you. Pankau Law’s residential real estate lawyers can help protect your investment and can help you find the city real estate that you desire near Chicago without as much competition like in other cities such as London and Tokyo. Call now!
This content of this blog is intended for informational purposes only. It is not intended to solicit business or to provide legal advice. Laws differ by jurisdiction, and the information on this blog may not apply to every reader. You should not take, or refrain from taking, any legal action based upon the information contained on this blog without first seeking professional counsel.