Housing Markets Set To Explode!

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According to a recent article, there are a number of states throughout the country that have a very high chance of experiencing continued rises in housing prices over the next year.

While some housing markets have cooled off due to a combination of state policies, slow or negative job growth and stagnant local economies, a few states are reaping the lion’s share of the increasing demand for national housing. In fact, the last few years have marked the first time since 2006 that the average housing prices across the country as a whole have set records. But these gains have been distributed unequally, and that trend is likely to continue. Here are three states where housing prices are likely to continue experiencing strong gains.

Nevada

Nevada isn’t just the gambling capital of the world; It’s also one of the states with the lowest overall tax rates and the most favorable laws towards business. These facts have continued to attract new residents in droves, driving the housing prices of the state up by a factor of nearly 3 since 2012. While buying a home or piece of commercial real estate is always a bit of a gamble, doing so in Nevada has been a bet that has paid off handsomely.

Texas

The Lone Star State has one of the fastest-growing economies not just in the United States but in the world. Cities like Houston and Austin have experienced growth in their respective populations that place them among the fastest-growing cities in the country. And the characteristic intrastate migrants that Texas has been receiving tend to be high-earning and highly educated. With some of the lowest taxes and one of the most pro-business environments of any U.S. state, Texas has seen a massive influx of tax refugees from states like Illinois, Connecticut and California.

Florida

At one time, Florida may have had the reputation of being the poor man’s California. Today, Florida is one of the most popular destinations for those fleeing the Golden State. With zero personal income tax, idyllic year-round weather and, perhaps, the easiest access to beachfront and water-based recreation of any state in the country, Florida continues to be a prime destination for retirees, business owners and just about anyone else who seeks fun and sun without the stifling taxes, regulation and congestion of California.

Disruptor: Bitcoin in Real Estate

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Technology is an absolutely invaluable part of our society. Objectively, the Internet is no longer an option, it is a necessity; we are constantly performing a variety of tasks on our smartphones, which are really supercomputers condensed into a device that’s barely larger than a deck of cards; and we are moving closer and closer to self-driving cars that no longer run on gasoline. The world around us is evolving into a digital utopia, and it’s taking no prisoners. Almost every industry, field or sector has been heavily influenced by some form of technology. One of the more recent impacts technology has made on our society is in our money. And this new form of money is impacting another important aspect of life: real estate.

 

Before I go any further, let me explain what exactly Bitcoin is. Originally introduced in 2009, Bitcoin is a digital form of currency known as cryptocurrency. The system works on a model known as peer-to-peer, meaning users exchange monies with one another directly without the use of a “middleman.” In the simplest description possible, Bitcoin is an online-exclusive method of virtual payment. And even though it has been around for roughly 10 years, it is just beginning to catch on in the mainstream market now.

 

Bitcoin seems to be most prevalent in the retail and restaurant industries. It is quickly becoming a viable option for payment. And now it looks to take on the real estate industry.

 

A report from CNBC.com states that there have already been properties purchased through Bitcoin in New York, Texas and California. President of Magnum Real Estate Group, Ben Shaoul, who was featured in the article, claims that he has begun to see Bitcoin make an impact in the Texas real estate market. He believes that the younger demographic of America is looking for alternative methods to purchase homes and property; they no longer want to rely on traditional U.S. currency. Bitcoin offers that freedom and variety in spades.

 

If Bitcoin continues to become widely accepted, it could take over the world and become just as easa to use as a credit card or a check. I am very interested to see if this new trend will take over or fizzle out.