I believe that we will be officially in a recession by the end of September 2020. Given that the market will take some time to bottom out I figure somewhere between 2022 thru 2024. I am under the impression that the opportune time to invest in a multifamily property would be as early as mid 2022. Any comments or suggestions? Thanks.
Is your plan to wait to invest in real estate until 2022 entirely based off your predictions of the market? There are ways to invest wisely in any market condition.
The North Carolina real estate market is hot right now even amidst the covid pandemic. Average days on market is in the teens and the average sales price is over the list price in many counties.
What real estate investors need to think of right now -
1 - as wealth dissipates from the market people need to keep a roof over their heads but you may then see a downsizing from class A’s to B’s and B’s to C’s. When you need to reel things in you’ll move to a lesser apartment before you give up your car or HBO (I’m joking). You’re also more likely to take on a roommate
2 - colleges MUST open as soon as possible. However, I think gone are the days of underclassman quad’s and tri’s in a single room. No longer will they want to share a gang bathroom for 40 people. This will drive middle and upper classman off campus.
3 - municipal and state governments will see what is happening and will see this movement of wealth and security concerns as a money stream to be taxed.