Buying A New Home In Salt Lake Is... Patriotic!
Would you believe that Buying a New Home In Salt Lake is Patriotic?
Well you might if you read Curt Dowdles article in the Salt Lake Tribune Saturday. Curt is an executive officer with the Salt Lake Home Builders Association (SLHBA) which is a non profit volunteer organization that promotes New Home Construction in Salt Lake.
You might think he's biased. You'd be right, and he admits that most of his articles are self serving.
Most of the time I think he is right on, so I guess that makes me biased too.
You can read all of Curt's article in the Salt Lake Tribune, Jan. 17th.. The headline is .. Yes, Mr. President there is a problem!!!
Or you can scan this blog about being patriotic by buying a new home to see how I came up with my rather ridiculous title.
Here are some of the facts presented by Curt that caused me to want everyone to wave the flag. And to remind us all of what a critical industry this is.
The housing Industry directly accounts for 26% of the country's GNP.
Three million jobs in housing and related industries vanished during the crisis.
there are 70 million owner occupied homes.
37% of these homes are free and clear. (surprised)
93% of mortgages are current.
Short Sales & foreclosures are a small part of the housing stock.
The Nations population will rise by 35 million over next 10 yrs.
That requires 14 million new housing units.
Utah is the fastest growing state in the nation.
Between now and 2040 Utah will need 900,000 new houses.
We have built only 640,000 in 162 years.
Mortgage interest rates have dropped to near record levels.
In 1972 Interest rates were 7.25, according to Curt. That's about the time I entered the business and I never thought I would see Interest below 5%. In another blog today I mention that Ivory Homes has bought interest rates down for its home buyers to 4.5%. Richmond American Homes has a program with mortgage rates even lower than that on selected homes for sale in Salt Lake. These are 30 year fixed rates. Very patriotic!!!
If you don't have an agent to feel patriotic with, give us a call @ 801-567-0946.
You can visit our website to locate some new homes in the Salt Lake area.
Hope you have found these highlights to Curt's article interesting and thought provoking.
I doubt that any one can claim that a recovery from the economic climate were in is possible without a recovery of the Real Estate Industry. A recovery of the Real Estate Industry begins with the renewed purchase of new homes.
So, back to the beginning, Don't you agree, Buying a new home in Salt Lake is Patriotic.