There is one advantage to the low interest rates even in an economic environment where there appears to be no upside to real estate investments.
That is, with interest rates so unbelievably low, investment in real estate causes our interest to be exceptionally high.
The low interest rates right now make 2012 a time to buy.
Because the interest is so low, higher priced properties of all kinds have become relatively easy to carry.
So the time is right to jump in and get yourself a property.
Even if there is little to no appreciation, the simple act of paying one’s mortgage every month guarantees that 20 years from now, whatever you bought will be coming close to having no mortgage.
At that point, if there has been no price rise at least you have major equity.
Bottom line, in real estate, the time to buy is always now.
This is especially true today.
And if prices begin rising – and some day they will, again, then you’ve got a double header, that is, price rise and equity build-up.
What investment can be better than that in a rapidly improving East Boston?