For economic development you want affordable housing. Cities like Atlanta are known for affordable housing. You can get a lot of house for your money! Very attractive to relocating companies! You can also sell that same house in a few years and get an excellent return on the investment. The ability to buy a house of equal quality and size cheaper in your city than other cities and get a good return for the house when it's time to sell is very important to economic growth. If you are a realestate investor, you want to buy cheap and watch the prices to go up rapidly. If you are a home owner, you want to buy cheap and watch prices go up at a good steady rate. If they go up too high, taxes become too much. If they don't go up or go down, you won't gain anything when it comes time to sell. The average family will move at least five times. Some more and some less, but most will move around five times. A home is their largest investment.
Right now some in the industry are predicting a crash in the realestate market due to the realestate investors and rising rates. After the stockmarket correction in 2001 many people started investing in realestate due to the low rates. Now rates are going up and prices are reaching higher numbers. South Florida is a good example of rising prices from investors.
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