After the American housing bubble finally burst in 2009, the level of fear and hesitation associated with purchasing real estate rose to an unprecedented high not only among American citizens but also foreign investors. When this seemingly inevitable collapse materialized, an onslaught of new guidelines and regulations were put into place by the United States government hoping to avoid another financial crisis. It is no coincidence that three of the states most affected by the housing market crash were Texas, Florida, and Georgia. In addition to ranking among the top 10 most populous states in the country, their sheer size, strategic locations, affordable housing, and weather lend to their desirability with potential homeowners. Many investors might be turned off by the number of foreclosures and bankruptcies throughout these locations, even several years after the initial meltdown, but if you do your homework and approach things the right way, you will find that you can benefit greatly from an otherwise disastrous situation and help the US economy along the way.
If purchasing real estate is a goal for you in 2015, especially in any of the states mentioned above, there are some careful considerations you should take into account before making the leap. As with any large financial undertaking, educating yourself is the single best thing you can do as a smart investor. Is buying property in the United States your best option? First and foremost, the "hows" and the "whys" of such a devastating financial collapse should be of interest to you. The following article from the BBC is a detailed exposé on how something like this can happen in the first place, how it could very well happen again, and goes on to explain the ramifications that Americans and foreign investors will be feeling for years to come due to mismanagement of funds -- http://news.bbc.co.uk/2/hi/business/7073131.stm.
The next set of questions potential home-hunters should ask themselves is, "What can I realistically afford?" and, "How do mortgage rates differ from state to state?" Forbes online compiled a list of the best locations to invest in during 2015, and it should come as no surprise that various locations in Texas and Florida made the cut -- http://www.forbes.com/sites/erincarlyle/2015/01/09/best-buy-cities-where-to-invest-in-housing-in-2015/.
Finally, if you settle on a particular property in Texas, Florida, or Georgia, know that time and patience are key to weathering the ongoing housing crisis storm. According to The Washington Post, things are slowly improving, but we will be feeling the effects of poor judgement and bad lending/spending practices for years to come -- http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/11/the-foreclosure-crisis-is-still-burning-years-after-the-housing-crisis-ended/.
Best of luck to all of those looking for a piece of the American dream.
If purchasing real estate is a goal for you in 2015, especially in any of the states mentioned above, there are some careful considerations you should take into account before making the leap. As with any large financial undertaking, educating yourself is the single best thing you can do as a smart investor. Is buying property in the United States your best option? First and foremost, the "hows" and the "whys" of such a devastating financial collapse should be of interest to you. The following article from the BBC is a detailed exposé on how something like this can happen in the first place, how it could very well happen again, and goes on to explain the ramifications that Americans and foreign investors will be feeling for years to come due to mismanagement of funds -- http://news.bbc.co.uk/2/hi/business/7073131.stm.
The next set of questions potential home-hunters should ask themselves is, "What can I realistically afford?" and, "How do mortgage rates differ from state to state?" Forbes online compiled a list of the best locations to invest in during 2015, and it should come as no surprise that various locations in Texas and Florida made the cut -- http://www.forbes.com/sites/erincarlyle/2015/01/09/best-buy-cities-where-to-invest-in-housing-in-2015/.
Finally, if you settle on a particular property in Texas, Florida, or Georgia, know that time and patience are key to weathering the ongoing housing crisis storm. According to The Washington Post, things are slowly improving, but we will be feeling the effects of poor judgement and bad lending/spending practices for years to come -- http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/11/the-foreclosure-crisis-is-still-burning-years-after-the-housing-crisis-ended/.
Best of luck to all of those looking for a piece of the American dream.
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