There seems to be enough bad news being disseminated these days that when we see some good news, we like to tell you about it, so here goes.
William C. Wheaton, professor of economics at Massachusetts Institute of Technology, argues that the housing market is due for improvement, calling home construction, “a sleeping giant that is about to wake up.”
Wheaton believes that because there has been so little construction that demand exceeds the level of building and it will soon absorb excess inventory.
“Housing construction will not only rise, but it will stay high for a while, which didn’t happen in previous recoveries,” Wheaton predicts.
Now that is the kind of news we like to report.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. A few weeks ago we wrote about a new company that had formed, Co-Ownership Solutions, that matches up buyers and sellers who want to purchase or sell a 50% interest or sometimes less in a property. The premise is simple. Why pay 100% of the expenses for a property that you will are using less than 50% of the time? In our $1+ Million category is a home in Kapalua Plantation that is a good example of a property that is available for co-ownership. Please let us know if you have any interest in this concept. It applies not only to multi-million homes but also to homes and condos in the under $1 Million category as well.