What Will Real Estate Be Like In the Next 50 Years?

Posted by Restore Utah on February 26th, 2020

The real estate market and its services are subject to change, and over the next 50 years, it will totally rotate the property market with 360 degrees. Most of the people prefer buying a home or land as the single largest investment for their future.

In most recent years, the real estate industry recognizes and implements consumer's louder demand which has generated lots of frustration in the estate industry. Startup businesses are utilizing the opportunity and jumping into this profession.

John Burns in his book “Demographic Strategies for Real Estate” mentions many data-supported predictions about the real estate business and its future in upcoming years.

Here are some findings that are important for real estate professionals:

1. Diverse situations tomorrow’s home market – In 1970, the population of the U.S. was 5 percent but then after it suddenly jumped to 13 percent. The increase is significant due to development of cities and foreign-born families. This population growth plays a bigger economic role mostly in the housing market.

2. Improvements in homeownership - Since 2005, only 7 million new households are formed which is an extremely slow rate as compared to last decades. Currently, the homeownership rate in the nation is a 50-year low. But experts expected this rise over the next 10 years. However, the rate will fall again.

3. Growth in Suburban area will return – Before 2015, urban growth was only in focus about 13%, while suburban growth down by 6% points. This difference creates diversity and so urban home rental and purchase prices have drastically jumped.

4. A labor shortage in the real estate construction industry – labor shortage is the biggest current issue in the construction industry. According to some analysts, it’s because the energy sector offering more attractive opportunities to the construction workers and that’s why they have no lucrative reason to come.

Restore Utah providing a robust real estate operating platform including Construction services.

About Restore Utah

Restore Utah is a real estate operator and investment fund located at Salt Lake City. It offers great real estate investment solutions such as multifamily, Single-Family Investments, and New Development for people who want to engage their money to earn handsome profit.

To buy or sell commercial or residential property, visit https://www.restore-utah.com/. Know more about real estate services; call on (801) 210-7002.

Address- 1600 South State Street, Salt Lake City, Utah 84115

Email- admin@restore-utah.com