Travis Cadman: Forecasting Real Estate’s Future in 2020
Real estate investors in Alberta, Canada, would naturally love to have crystal balls that tell them what will happen in the next three, six, nine, or 12 months. The truth is, though, that there is no surefire way to know exactly what will happen in the real estate industry in the near term. Still, leading industry experts like Travis Cadman of Investar USA are known to provide consistently reliable real estate industry outlooks from year to year. Here is a glimpse at what Cadman says will likely happen in 2020. First, the economy in North America, cities is as strong as it has ever been compared with years past. However, according to Cadman, purchasing power in the residential real estate industry is expected to take a hit next year. The reason for this is that mortgage rates. When the mortgage interest rate rises, home sales have a tendency to slow down, as the rising rate decreases an individual’s ability to obtain a mortgage by a whopping 7%. On the flip side, if the mortgage ra...