As the missile strike approved in Syria, I'm interested to see how war time affect the real estate market.
If any has real estate data or experiences for real estate market with military base from the 2000 - 2005 please share with me. Zillow only show data from 2011 to now.
I'm about to close on a house at camp lejuene and I want to factor in the risk.
@John Lee interesting question and as an active duty Marine officer I have some insight into this situation. War will not necessarily impact housing demand/costs. From 2000-2005 we went from a peace time military to full combat operations in two different countries and due to that congress approved increases in military manning and the Marine Corps grew from 183k to 202k. During the previous administration and the withdrawal from Iraq the Marine Corps was cut down (179-185k range). This was determined to be not sufficient to carry out the demands levied against the service so the USMC numbers have been growing over the past few years and thought it appears to change yearly, the actual authorized manning numbers are approved and projected forward several years so any short term war/crisis will have to be handled with current manning and reserves. It appears to me that the USMC will grow to about 195k by 2025 so I would say the Jacksonville market is looking pretty stable for the foreseeable future. Nothing short term will impact the base area demand in a meaningful way.
My $0.02...best of luck to you.
thank you, that is reassuring
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