Profiting from a home purchase is hard and unpredictable. Don't bet on it as your chief retirement investment.
Special to USA TODAYOn April 5th, USA TODAY reporter Paul Davidson wrote a piece on the big gains folks reaped buying starter homes as housing markets rebounded from the long 2006-2011 housing crash.
People looking to real estate today for retirement riches often point to those big post-crisis gains. Trouble is, you can’t buy past performance. And the recent past probably isn’t a blueprint for the next 10, 20, 30 years or more. The U.S. housing market is at one of its strongest points in decades — and U.S. vacancy rates reflect that strength. Nationwide, just 1.52% of single-owner homes and condos are vacant, one of the lowest points in years. The last time vacancy rates were so low was the 1990s.
Even where it’s cheaper to buy, eye-popping gains aren’t guaranteed. If you buy where new construction is limited and job opportunities are humming, keeping supply low relative to demand, you may do very well.
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