The housing market is a crucial part of the economy of any country. It is also an important part in the lives of many people. The house prices have seen significant changes over the years and it will see even more in the future. We can only guess what these changes might be.
House Prices Possibilities
– House prices will continue to rise as they have been doing for decades.
– The government will become more involved with housing policies, such as building affordable houses for low-income families or subsidizing mortgages for first time homebuyers.
– Homes will be built with sustainable materials like adobe constructions, solar panels and wind turbines to help reduce energy use and costs.
– Homeownership rates will continue to decline because of higher prices and fewer homes being built each year.
1. We’re Going to See a Recovery in the U.S. – Prediction 1
The housing market is recovering, and will continue to recover for the next few years. The U.S. housing market is one of the most important components of the economy, and it has been on a steady incline for a while now.
The housing market has seen an increase in prices from $201,000 to $204,000 over the last four years (since 2013). It is predicted that prices will continue to increase over the next few years as well, with an expected price range of $248,000-$255,000 by 2023.
The U.S. economy is one of the largest economies in the world and has been steadily recovering since 2009 when it faced major economic downturns due to subprime mortgage crisis and recession of 2008-2009.
2. People Go Green – Prediction 2
The world has been experiencing a rapid increase in population and as the population increases, there is also an increase in the need for houses. This means that if we want to live green, we will have to be prepared for a rise in house prices. In order to meet the increased demand for environmentally friendly, sustainable homes, builders need to significantly increase the price of their product.
3. Baby Boomers Disrupting the Market – Prediction 3
The baby boomers are set to retire in the next few years. This will lead to more retirees and fewer people in the workforce. This is going to have a huge impact on the housing market. It is possible that by 2023, baby boomers will buy homes, which will drive up property prices and make it more difficult for young people to buy homes.
4. Millennials Will Buy Houses Too – Prediction 4
The number of millennials who own a home is increasing. The prediction is that the number of millennials who own a home will increase from 46% in 2016 to 60% by 2023. If that’s the case, then those who buy a house will be in their early 40s.
5. Real Estate Is No Longer a Good Investment- Prediction 5
It is predicted that the house prices will drop drastically in 2023. The reasoning behind this prediction is that the population growth in the US has slowed down. In addition, there is a high unemployment rate. This prediction does not seem to be true as of now. House prices are not dropping and the unemployment rates are going down. But if this starts to happen, the housing prices may drop in 2023.
If that really happens it could also mean that it is a good investment to have real estate to rent out. If you are thinking to invest, you may like to look for block of apartments for sale.
Rising House Prices – Does this mean the house for less than 100k will be of the past?
The answer is not black and white. It will depend on the region, type of housing and other factors. For example, in some regions, it might be possible to find the house 100k. But in others, you might have to spend more than 100k to get a house that is liveable. Nevertheless, if you go for a smaller home or a fixer upper it should still be possible to get yourself a nice bargain.
If you like check out our houses for sale for 100000.