U.S. ? (www.ccim.com) Real estate investors and mortgage lenders can benefit from recognizing the ?inherent volatility? of land prices, according to an economic letter and research report issued by Stephen D. Oliner, senior fellow at UCLA?s Ziman Center for Real Estate and senior economist for the UCLA Anderson Forecast.
The research analyzes historical trends in land prices as a barometer for current risk in land investments. For instance, at the height of the 2006 real estate boom, U.S. land (excluding farmland and land held by the government) had an estimated value of more than $17 trillion and represents about 40 percent of the value of commercial real estate and housing in the U.S. While a great share of that value deteriorated in the subsequent real estate market crash, UCLA?s research examines the huge swing in land value over the recent cycle, indicating that land is indeed a high-risk investment?
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Source: http://www.rednews.com/index.php/2012/10/research-analyzes-land-investment-risk/
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