Why local real estate matters?

 If you're not looking to sell or buy, you might be asking yourself  why this is important. In reality, housing market is one of the most important aspects of the U.S. economy today. Many economists and experts have come to say that the key to a strong economy is a strong housing market.

A prime example of the influence of the housing market upon the economy is the nicknamed "Great Recession of 2007-2009" where the housing market fell, and until we relatively entered the early stages of housing recovery, there was barely any economic recovery to be seen. The housing market has bounced back, however it still isn't hard to find bad news in regards to the real estate market. However, with that in mind, according to a recent Gallup poll, Americans believe that real estate is the best long-term investment, even better than stocks, bonds or gold.

How can that be? 

Frankly, having spent a lot of time writing and researching real estate, I’m not all that surprised people feel that way. That’s because housing is an arena where the individual investor really can become the expert. Unlike stocks or bonds, you can walk around a neighborhood, touch and feel the properties and really get to know your investment first hand. Founder of the Real Deal, Amir Korangy says that if you want to invest in real estate, choosing a market you already know is critical. Korangy, who has bought and sold dozens of properties, in addition to founding the monthly real estate publication, advises getting started with a property you live in as the “safest and best investment.” (Gerri Wills, Fox Business Network)

The survey also that showed real estate has  become a standard self-directed retirement vehicle. (read more here)