What is one of the real estate trends that is very significant to real estate investors? Will this trend be important for the next generation? Why?
The trend is that people will be moving closer to cities-again. They will not be locating farther away in the suburbs because of higher gas prices and expenses. Baby boomers want to be closer to what they need. They do not want to drive everywhere. Younger people want the neighborhood experience instead of the big lawn, super maintenance of the burbs.
That means savy real estate investors need to pay close attention to these trends. This is very important because location is everything. The younger generations want to connect more- and they want to do a lot of it on foot. They want to be able to walk around and see their neighbors.
Baby boomers will be driving less and want to be able to get groceries and supplies without getting into their cars.
Drive around the outskirts of your city and notice the rehabbing going on in the closer neighborhoods. If a coffee shop has already opened up, you may be already behind the trend. Look, observe and then invest in houses that need rehabbing- easy rehabbing. Or if zoned right, you could just tear down a old house and build a new one or two on the lot.
Read ABC's Special Report: Real Estate Investors Investing Closer to Cities
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