According to the National Association of Realtors it is, maybe consider investing in a duplex or small apartment.
“Smaller units are typically older … and during a downturn people prefer lower-quality properties with fewer amenities,” says Hessam Nadji, managing director of research at real estate brokerage Marcus & Millichap.
Young people are most likely the tenants in these type of living quarters. All the baby boomers from the 1950’s are now reaching the age that their children of the 80’s are going out on their own. While they do make up one of the highest percentage of unemployment right now, they will likely be the first hired when when the economy improves, says Reis Research Director Victor Calanog.
Buy now while prices are down. Prices will go up again.
If you want more info on this for the Nashville area, please let me know. I can think of 5 great condo deals, right now worth looking at!
Source: Investor’s Business Daily, Amy Reeves (02/26/2009)
