“If I had a way of buying a couple hundred thousand single-family homes I would load up on them.”
However, throughout the interview, he addressed the market from a few angles. Here is what he said:
Why invest in real estate now?
“It’s a way, in effect, to short the dollar because you can take a 30-year mortgage and if it turns out your interest rate’s too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years. So it’s a very attractive asset class now.”
Is buying your own home better than investing in stocks right now?
“If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”
Should we buy multiple houses?
“If I was an investor that was a handy type and I could buy a couple of them at distressed prices and find renters, I think it’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make now.”
Over the last couple of months, there have been more and more financial analysts coming to the same conclusion: It’s time to buy real estate.
Convinced? Ready to Buy? From first homes, move up homes, or investment properties....we've got you covered! Give us a call or shoot us an email.
Source: KCM Blog - Steve Harney
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