Strong employment, 66 million Americans aged 20 to 34 and low vacancy rates mean an excellent outlook for rental properties in the US.
The latest predictions from Freddie Mac point to 2016 as the best year for property in the US for ten years. Bases its figures on solid job creation, continual household formation and steady price rises pushed upwards by demand, the federal mortgage corporation believes the US property market is set for an excellent year. BRIC Group explains why.
The Florida property market continued to show solid and sustainable growth in March, a month that notched up the state’s 40th consecutive rise in median houses prices. Closed sales also boomed while inventory levels dropped nearly 10 per cent.
Recent US economic figures show the country is on track for one of the most buoyant years since the beginning of the crisis. Economists believe 2015 will be the strongest for a decade and point to several factors driving economic growth. These include consumer spending, job creation and the US property market.
The U.S job market looks set to swing into action in 2014. Forecasts for Florida in particular show a positive trend in 2014, with estimates of adding around 176,000 new jobs to the state’s economy, with a particular concentration in the construction sector. Such job creation should help stimulate Florida’s economy through increased wages and confidence in the local market.