Released on: July 28, 2008, 10:50 pm

Press Release Author: rifkinandfoxisicoff.com

Industry: Law

Press Release Summary: Insanity rules in the housing market. Things have never looked so bleak but there is hope for the next ten years.



Press Release Body: (AP) If there is any hope of turning the housing market around, then close attention is needed to the changing demographics of the country. It\'s time homeowners got a break from owning property that is worth less than their mortgage rates.




The demographics of immigration are the focus for the next ten years of growth in the United States. The influx of thousands of immigrants will change the total landscape of the housing market in a positive manner. The grassroots of the housing industry will perk up and start an uphill cycle of returning to the boom times.




It\'s simple math to figure out if there are thousand of immigrants coming to the United States, they will need places to live. Since they need places to live, they will buy what is currently sitting on the market - a backlog of close to a year of new homes and existing unsold homes.




The next ten years will tell a story of success for immigrants and the housing market, not to mention the economy. They will also reflect another trend noted by sociologists, and that is divorces are on the rise and late marriages are becoming more common. These things translate into a demand for more single-person homes.




Given the current immigration statistics, it is predicted that close to 1.2 million new citizens will impact on the housing and local economy in a positive way nation wide. New immigrants are home house buyers, and house buyers drive the market. The other statistic of interest is the guesstimated increase in households in ten years to be near the 1.4 million mark.




No matter how the statistics are massaged, the current glut of homes on the market need to be absorbed back into the woodwork. That shocking statistic puts empty unsold houses around 2.12 million. In order to turn things around it only makes good business sense to welcome new immigrants to America. By doing so house prices will decline as will interest rates. As for mortgages, they should become more affordable, reasonable and realistic.

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