Economy is solidly advancing

[Christopher James]

I read a recent article by one of the very best Economist in the Real Estate Business that anticipated growth of 4 to 5 percent occurred in the second quarter. GDP will exceed 3% for the first time since 2005 and unemployment is at 3.8 percent. This is terrific news. However, there continues to be a shortage of available homes for sale, and the homes that are for sale are priced on the extreme high side or are going into escrow in a matter of days, resulting in a need for rental units.

A business partner of mine just recently purchased a 3 family in Western Massachusetts, remodeled kitchens bathrooms and re did the wood floors, ( all affordable renovations), and increased his rents by over 19%!!!!

What are you seeing out there in your market

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Originally posted by @Christopher James:

I read a recent article by one of the very best Economist in the Real Estate Business that anticipated growth of 4 to 5 percent occurred in the second quarter. GDP will exceed 3% for the first time since 2005 and unemployment is at 3.8 percent. This is terrific news. However, there continues to be a shortage of available homes for sale, and the homes that are for sale are priced on the extreme high side or are going into escrow in a matter of days, resulting in a need for rental units.

A business partner of mine just recently purchased a 3 family in Western Massachusetts, remodeled kitchens bathrooms and re did the wood floors, ( all affordable renovations), and increased his rents by over 19%!!!!

What are you seeing out there in your market

 I actually minor in economics and an investor in Stock and FOREX (currency, basically like stock market but instead of companies, you invest in countries). 

It's actually not looking good if you are talking about economics. GDP and unemployment are the only thing positive right now. Inflation, wage gaps, debt, etc. are not keeping up like they should be which shows a sign that the economy is overheating (its a global thing). When it overheats, one of the markets will fail, most likely the stock market since it is already showing signs of investors hesitating. My RE market is already seeing it, lot's of sales and foreclosure are start to slowly rise again. Houses are sitting 75+ days on the market. Good for investors though since rent prices are increasing... people got to live somewhere.