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Showing posts from June, 2016
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After US markets lose three trillion in two days on the back of BREXIT, real estate looks better and safer as investment. Britain's vote to exit the European Union (EU) will likely have a long-term impact on the world economy – but in the short-term, U.S. real estate could be flooded with investors flocking to the U.S. as a safe haven, pushing up the dollar and sending down mortgage rates. "Demand for U.S. real estate could rise," says NAR Chief Economist Lawrence Yun. On the commercial side, global corporations could show additional interest in U.S. real estate as they come to see the U.K. as a less certain place to set up or maintain their businesses, Yun says, "especially in London as it becomes a less attractive place to conduct global business." While a rise in the dollar could hurt U.S. exports, it's also expected to put downward pressure on long-term mortgage interest rates. "Mortgage rates will tumble," says Greg McBride, chi