US Real Estate Market Goes Through a Natural Correction

October 27, 2008
Building Pro Development

The prospects for the US real estate market are not as bleak as some analysts are trying to imagine, said Jeremy Brandt, executive director of 1-800-CashOffer , which is part of Cash Offer Corporation, one of the largest investor groups in the United States (over 100 thousand home sales customers in 2008).

“I agree that the US real estate market as a whole is starting to bottom. But the mid-2007 market was very overvalued, it needed to be corrected. Therefore, a fall of 15-20% after a huge increase is not surprising,” Brandt told the correspondent Building PRO development.

Despite the fact that the process of default will continue as a result of the crisis in the financial markets, Brandt noted the growth of foreign investment in US real estate. According to him, “an overvalued market, combined with a strong economy in the long term, creates great opportunities for investors, both American and foreign.”