A Look at the Real Estate Market and the State of the Economy
It was caused by the housing crash and the Great Recession of 2008, but it still has an impact. Risky lending practices let people buy homes that they couldn't afford, and people didn't pay attention to the secondary market, which made it hard to tell sub-prime mortgages from other mortgages. As a result, interest rates went up, making the loans too expensive for people to get. At the same time, falling home prices made it hard for banks to get rid of their homes. There are many good things about investing in real estate. The industry is a major source of money for the economy. The National Association of Realtors says that the business makes $3.7 billion a year. The industry also helps the local economy, as each new home adds about $88,000 to the local economy. Economic growth in America grew by 33.1 percent year over year in the third quarter of 2018. This is what the Bureau of Economic Analysis says. This trend doesn't mean that the economy isn't strong, and most p