When the pandemic his, nobody in their right mind thought real estate would be under threat. If you look back in economic history, the one asset that has remained immune from large economic shocks, is property. Real estate has never been under threat, at least not for long. This is because, land, homes, buildings, stores, hotels, etc, will always be in demand. There simply cannot be a crisis of mass homelessness or the lack of people wanting their own property. So that means that it shall remain popular even during tough times. Maybe this is why property has remained a safety hero for the wealthy. Here is how this statement is true beyond scrutiny.
High-rise office buildings have been under threat for the past few months. This is because, businesses found out, they actually can survive with the majority if not all of their workforce, working from their own homes. In fact, companies such as Google and Apple will pay for their employees’ home offices. Apple is paying $5,000 to their employees who want to or can work from home, to build their home offices. High-rises therefore have been shockingly emptying over the past few months. However, these former office buildings are being converted en masse into new apartments. This has saved high-rise buildings from total disaster and although it’s drastic, it was always an option to convert them into this manner. So those who invested in these commercial buildings can rest soundly knowing they will become hotels, apartments or condos, or even penthouses.
No matter what has happened in the past few months, no one can say they don’t want to own their own home as a result. In fact, due to many of us being stuck at home, we value having our own space. This is perhaps why Mortgage Quotes have been adapting to the needs of many people who have never owned their own home. You can get a mortgage quote for free nowadays. Add in your limit, the property type, interest rate, payment schedule, needs etc, and see what kind of specialist brokers want to take up your challenge. The brokers can find the type of home and mortgage combination that fits your needs.
Because governments need it to be
Governments desperately need their housing prices to remain competitive. They need to be in a sweet spot of rising every year but still being affordable. This is why policies from either side of the political aisle tend to favor first-time buyers, investors and those who want to sell their homes. It remains one of the only things that is generally protected from any kind of radical reform either by conservatives or leftists. So you can rest assured you won’t be under threat if your investments are locked in real estate.
Property is incredibly adaptive. It remains a safe haven for wealthy investors and normal investors who want somewhere to put their retirement funds.