With all the talk about the “hot market” real estate market in Maplewood, NJ and surrounding towns you may be wondering if it’s still a good time to buy real estate. The answer is yes. Historically speaking, purchasing real estate is very affordable at the current moment. Take a look at this chart from Gary Keller’s 2015 Vision Speech to see how owning a home in 2015 still requires a lower percentage of household income than historical averages—6% less in fact:
Zachary Z. Goldberg, Certified Financial Planner and Financial Advisor with the Goldberg Group at Morgan Stanley Wealth Management in Short Hills, shared this more in depth analysis of the current national housing market with me. This report highlights how demographic trends as well as economic ones are impacting the housing market positively making now a good time to buy or refinance. I have attached it as a PDF for your information and I can put you in touch with Zachary if you have any questions about how your home fits into your larger financial picture.