I recently attended the Santa Clarita Economic Development Committee meeting and heard some great news I want to share about what we can expect in the near future and next couple years.
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Nationally, the unemployment rate is down 4.6% and wages are increasing. Real estate is increasing too, but because it’s not outpacing incomes, we don’t have to worry about a housing bubble. Consumer confidence is at an all-time high, and the indicator of a potential recession in which the market would fail is at a historic low of only 6%.
Jobs are being created as well. There were 6 million reported job openings last year, most of which were in the STEM category: science, technology, engineering, and math. Those are proving to be tough jobs to fill with unemployment being so low and job openings being so high, but the average STEM career path leads to making around $177,000 a year. There’s a lot of opportunity right now.
Now would be a great time to invest in a rental property.
In our local area here in Santa Clarita, the new Logics and Scorpion buildings are going up, which is creating a great number of new jobs. Apartment vacancy is at a low 2.1%, which means now would be a great time to invest in a rental property.
All of this great news means there are a lot of positive things on the horizon both nationally and locally.
If you’d like to get a more in-depth analysis of this topic or if you have any other real estate questions, please don’t hesitate to give me a call or send me an email. I look forward to hearing from you!
