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Today, the U.S. economy relies heavily on the housing market and real estate. In fact, household wealth in the United States is often derived from homes, and housing construction provides widespread employment. The housing sector contributes 15 to 18 percent to the country’s Gross Domestic Product (GDP on average). and approximately 65 percent of occupied housing units are occupied by homeowners. Various economic sectors depend heavily on real estate for their wealth, which makes real estate a key factor in the economy. Rising real estate prices increase wealth, which leads to more borrowing and spending by both individuals and businesses.

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Residential Real Estate Investment

The purpose of residential real estate is, of course, to provide housing for families. However, for many Americans, there is no greater source of wealth or savings than residential real estate. Residential investment averages approximately three to five percent of the GDP. This includes:

Commercial Real Estate Investment

In addition to jobs, commercial real estate increases the number of apartment buildings for more housing and provides space for retail, offices, and manufacturing. This can be one of the most significant property solutions for revitalizing communities.

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Real Estate Revitalization’s Effects on Communities

Real estate impacts communities by stimulating community growth while also improving the local citizens quality of life, inspiring better economic health, providing substantial local tax benefits, and reducing the local crime rates. Revitalization involves transforming a deteriorating area into one that is flourishing. A house that is left to decay slowly begins to affect the other houses in the neighborhood. The sight of overgrown lawns, boarded windows, collapsing roofs, and sagging porches is unpleasant. Property values depreciate over time, lowering the value of nearby properties. Investors restore beauty and value to communities by buying these properties. An area’s overall curb appeal increases when any home is renovated, attracting more renters and buyers alike, thereby helping local homeowners get a much better price if they’re trying to sell their homes.

However, revitalization goes far beyond just advertising “We Buy Houses”, making a cash offer, a quick closing, fixing up a house, and making a profit. It’s also about improving the quality of life for low-income families and helping them to be able to afford a beautiful place to live. Additionally, new jobs are created for many local tradespeople. Real estate investment benefits everyone from maintenance personnel to notaries, plumbers, roofers, and many others. Investors’ hard work results in improved communities, more affordable housing, and more work for the local people.

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