Motley Fool Money Real Estate Trends: Residential & Commercial
May 22, 2022
Nick Bailey, President and CEO of RE/MAX, shares insights on the driving forces behind the single-family home market and what could slow down multi-family property trends. Joel Marcus, CEO of Alexandria Real Estate Equities, discusses the booming life sciences sector within commercial real estate and his company's ability to foster long-term partnerships with major biotech firms like Eli Lilly and Merck. Together, they paint a picture of the current real estate landscape and its evolving dynamics.
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Housing Shortage and Demand
- The US has a significant housing shortage, despite rising interest rates and inflation.
- This shortage, coupled with millennial and Gen Z household formation, continues to drive demand.
Home Buying Advice
- Buy a home when you're personally ready, not based on market timing.
- Focus on job security, down payment, and affordability of monthly payments.
Agent Challenges
- Many real estate agents may struggle as the market shifts.
- "Order takers" who thrived in a seller's market must learn to actively seek clients.