Good story, in the New York Times, about people buying investment properties. It’s about people in New York City, but it’s relevant for us, here in Boston, as well. Boston has always been a good market for investing in rental properties, although things definitely slowed down for the past couple of years, as people bought instead of rented. Still, you can always count on the yearly influx of students. Plus, now that interest rates are rising, those people who were going to buy might not be able to, and will rent, instead. Could be a good time to invest and hold.
Seeking Nest Eggs,
Investors Buy Nests
By David Neuman
As New York’s real estate juggernaut thunders on, with record topping record, it would seem that there are no longer any surprises in the market and, certainly, no longer any deals.
But the real surprise may be that, amid all the hype and hurly-burly, many New Yorkers are quietly investing their money in real estate in ways that are not speculative but adhere to a more traditional approach: buying for the long term, seeking properties that generate rental income and, yes, for those who know where to look, even finding the occasional good deal. These new old-style investors include stock market refugees still licking their dot-com wounds, long-time renters hoping for a retirement nest egg, and eat-sleep-and-breathe real estate professionals.
Buy Nests (nytimes.com)