The Real Estate Boom ? How Long Will It Last?

There is a lot of fear about the real estate industry. Media reports suggest that the real estate industry is a bubble that is about to burst. But how true is this? Below are two facts that suggest there is no real estate bubble.

Fact No. 1

The real estate economy is local, not global

Unlike the stock market, which is based on the national and world economy, the real estate market is very much a locally-based economy. What does this mean? This means that while the stock market is influenced by economic rise and fall of industry all over the nation, the real estate market is not. Real estate prices in California may not influence prices in New York, and that's that. In real estate, a broad analysis of what is happening around the nation does not always reflect what is happening in your home town.

Fact No. 2

When there's a demand, there's a supply

As long as there's a demand there's a supply. Real estate is about real people who need homes, and people will always be buying homes, because people need to live somewhere. If you look to the future, you'll see that there's an ever increasing demand for real estate. Take, for example, the fact that millions of migrants are arriving in the United States each year. This movement translates into a need for real estate. Moreover, it's also much easier to get a home loan these days, which means that people will be buying homes. People also get married much later, which means that they'll probably be buying a home while still single.

Home buying is a concrete need, unlike the stock market, which is less concrete. In the stock market, buying and selling happens at the snap of a finger. In real estate, economic activity is less volatile. The industry is inherently more stable.

The real estate market will rise and fall, but in general real estate prices rise in the long term. So, if you are investing, simply hold onto your purchase for the long term, and you'll see that this is no bursting bubble.

Posted by Robert Fusco on December 13, 2008 at 12:00 AM

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Local Information for Wilmington, DE

Latitude: 39.748563 -- Longitude: -75.551581

ZIP Codes for Wilmington, Delaware	19801 19802 19803 19804 19805 19806 19807 19808 19809 19810 19850 19880 19884 19885 19886 19887 19889 19890 19891 19892 19893 19894 19895 19896 19897 19898 19899
Area Code for Wilmington, Delaware	302
Time zone for Wilmington, Delaware	EST

Other Area Cities: Smyrna, DE Wilmington, DE Claymont, DE Newark, DE Talleyville, DE Hockessin, DE

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The area now known as Wilmington was first colonized by settlers from Sweden about 1638, establishing the colony on New Sweden. In 1655 the Dutch arrived and took over the colonies from the Swedes and Finns. Then in 1664 British colonization began, the area stabilized under British rule, with strong influences from the Quaker communities, and was granted a borough charter in 1739 by the King George II which changed the name from Willington, after Thomas Willing the first 'developer" of the land who organized the area in a grid pattern similar to that of its northern neighbor Philadelphia, to Wilmington, presumably after Spencer Compton, Earl of Wilmington. The greatest growth in the city occurred during the Civil War. Delaware, though officially a Union State, was divided in its support of both the Confederate and the Union soldiers; the northern part of the state was largely Union, while the southern part of the state leaned toward the Confederacy. -- Source: Wikipedia.com

Delaware 2000 Census Population Profile Map

	Wilmington	Delaware	United States
Population	72,664	783,600	281,421,906
Median age	33.7	36	35.3
Median age for Male	31.7	34.9	34
Median age for Female	35.7	37.1	36.5
Households	28,617	298,736	105,480,101
Household population	68,436	759,017	273,643,273
Average household size	2.39	2.54	2.59
Families	15,881	204,590	71,787,347
Average family size	3.19	3.04	3.14
Housing units	32,138	343,072	115,904,641
Occupied units	28,617	298,736	105,480,101
Vacant units	3,521	44,336	10,424,540

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The Real Estate Boom ? How Long Will It Last?

Local Information for Wilmington, DE

Latitude: 39.748563 -- Longitude: -75.551581

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