Real Estate Trends:

Trends in real estate can change drastically over months of time- not to mention a full 10 years. Financial rates, stability, opportunity, and many other factors are all affected by time.

Real estate rates have been increasing over the years- great for sellers, not so much for buyers. Cost of living has also increased, allowing costs of residence or business to increase as well. Those who entered the real estate game 10 years ago, and are still in the game, are most likely rich. The competition is much fiercer these days, and success isn’t so easy to come by.

Direct partnership when concerning real estate is making a comeback over the past 10 years. In 1986, an act was established that took away many tax breaks those who were in partnerships could experience. This effectively crushed the market in many respects, but the past 10 years have shown an increase in partnerships.

Renovations have seen a major increase in the past 10 years. This has been one good reason why market value has increased drastically. With the high market value increasingly getting larger- it is suspected that the baby boomers will crash the market, as some believe they already have. When World War II ended, many soldiers came home to make new families. This extremely large surplus of human life demanded new houses be built- much more than the current rate of population of the United States can handle. With an excess of housing, rates will sink to a 10 year low, eventually.

"Do it yourself" attitudes have become increasingly more apparent in the past 10 years. Many try to sell, buy, lease, or rent homes without consulting lawyers or brokers. This has effectively led many to see some rather large hardships. Among these is the borrowing game. Lenders have over the years cheated many into agreeing to contracts with hidden fees. These contracts have effectively put many into debts that are very hard to repay. Recent legal action over the past few years has brought this practice to a near standstill- but still exists.

The real estate market will continue to change, just like it has over the past 10 years. You could say that the past 10 years led up to the end of the baby boom generation, and to inflation. It would be accurate to think that in the next 10 years, the market will again drastically change from these baby boomers, but we will instead see prices drop- although, predicting the market can be a very tricky game.