Profile picture for Boojum54

What are the short term and long term predictions .........

.......for investing in single family homes in the Forest Hills and Terrace Boulevard areas of East Cleveland OH. There has been a great deal of building and expansion in that direction by The University Circle Development Corporation in the past 2 years?
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January 02 2012 - East Cleveland
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Answers (3)

Profile picture for the_country_hick
If you can not rent a house for more than it costs for a monthly payment with zero down, taxes, insurance, and a reasonable maintenance cost amortized for each year of ownership it is a bad investment. Then do not forget that you are likely to have at least one empty month a year so add even more to the cost side of the equation.
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January 02 2012
Your best bet is to talk to a local professional that specializes in that area. Even though there are great opportunities out there, investing in real estate, especially when in involves speculation, is risky.
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January 02 2012
Profile picture for SteadyState
Short term - more buyers will buy based on tax-payer funded support for housing.
Longer term (over 10 years) - most home owners will be squeezed because despite housing remaining flat, increased interest rates and increased tax burden to cut the debt will damage home affordability and will force most new households into multifamily rentals because tax-payer support for housing will be eliminated leaving 2011 buyers with property that can only be sold at a loss.
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January 02 2012
 
Related Questions
What are the short term and long term predictions .........
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Latest answer by Dan
January 02 2012 | 3 answers
  • Asked by Boojum54
  • In Investing
  • January 02 2012
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