| If you are interested in buying Maryland | | | | understandably functions like this -- |
| real estate, you might want to consider | | | | higher demands with lower supplies merit |
| your finances and seek counsel from | | | | higher prices. So unless Maryland |
| financial advisers. Though the state is | | | | developers and builders start building |
| a great place to settle in with a | | | | and developing new properties, it is |
| bustling business district and good life | | | | unlikely that the cost of Maryland |
| standards, there are certain issues | | | | housing will decrease. |
| about Maryland real estate that you must | | | | The study by the realtors' organization |
| know. The issues are not as bad as | | | | also points out other factors in the |
| property fraud, but they could wreck | | | | rise of housing costs. It is likely that |
| havoc in your finances. But if you have | | | | housing affordability in Maryland will |
| high income and can afford a high-priced | | | | be an impossibility if the following are |
| property, then, you are most welcome in | | | | not taken care of: population growth, |
| Maryland. | | | | high interest rates, continued |
| Maryland real estate prices are | | | | house-value appreciation, slow income |
| continuously rising prompting realty | | | | growth, and added real estate taxes. |
| analysts to conclude that housing will | | | | Rising costs of energy are also starting |
| be less affordable to Maryland families | | | | to factor in housing costs. Ingraham |
| and others planning to settle in the | | | | states that the problem of Maryland real |
| state. Maryland Association of Realtors | | | | estate is not an isolated case; other |
| surveyed state residents and reviewed | | | | states are suffering the same thing. |
| the current housing trends in Maryland. | | | | However, statistics show that |
| The association found that the cost of | | | | entry-level home buyers suffered from a |
| purchasing a home and its maintenance | | | | four-fold price increase which began in |
| are further complicated by unmet strong | | | | 2003. The future does not bode well |
| housing demands and supply shortage | | | | with Maryland real estate as employment |
| across the state. Alan Ingraham, the | | | | rate is only expected to increase by 8% |
| association's top realtor assessed that | | | | while salary increase is only pegged at |
| the current issues will affect real | | | | 1.9% over a period of five years. |
| estate for the succeeding 15 years. | | | | Significant population growth is |
| Deborah Ford, a professor of economics | | | | expected within the next 15 years. The |
| from Maryland, affirms statements by | | | | property market in Maryland will |
| Ingraham that Maryland real estate has | | | | continue to suffer because of no-growth |
| not yet reached its most affordable | | | | policies; this means that no new |
| price. She even asserts housing prices | | | | properties are to be built. If you feel |
| are not likely to go down in the near | | | | that you can handle the pressure and |
| future due to the law of supply and | | | | you're up for high-risk investment, |
| demand. According to Ford, the demands | | | | Maryland real estate is a good |
| for housing are not met by developing | | | | opportunity to exploit the real property |
| new properties so there is a housing | | | | market. |
| scarcity. The law of supply and demand | | | | |