Numbers like this are interesting to know, but what does it mean?
Housing construction is a lagging indicator of real estate demand because of the significant lead time required to build.
Since housing construction is up from last year, this is an encouraging indicator that demand for housing is up.
Housing construction is not up significantly(18% up), but this is a good sign because very high construction numbers signify the end of a boom.
Check out this graphic that illustrates the point:
Source: Kamloops Stats 2008
What is the lesson here?
At that point you will be investing during the peak of the boom or just before, and may have to hold onto your property for a long time [10+ years] to make any money in appreciation.
– If the media says the economy is booming, they are commonly the last to know.
This is why I am confident that now is the best time to buy in Kamloops. We are at a sweet spot in the market now, where rents are high but prices are flat. There are lots of deals to be found now that cash flow, and a great set up for the appreciation that will inevitably happen in the next five years.
The best part?
No one is paying attention!
The purpose of this blog is to help show you this window of opportunity now in Kamloops, and how to get a big head start on your financial goals with a built in equity climb just around the corner.
To learn more about the coming real estate boom in Kamloops please download my detailed report here.
Until next time,