Jacques Poujade is one of the top real estate investors and advisors of the time. With over 30 years of experience under his belt, Poujade is managing partner at LendsPlus, a real estate financing firm that helps homeowners make their property investment dreams come true.
There is no doubt that 2020 was an unusual year in the real estate world. That being said, we caught up with Poujade to get his insights on the current of the real estate market and where we might be headed in 2021
How did COVID-19 alter the course of the real estate market?
The global pandemic definitely changed how people lived. Overall, everyone is spending a lot more time at home due to remote work and lockdown restrictions. That being said, I still saw a big shift in the real estate market.
More people moved out of metropolitan areas and to more unique, exotic locations they couldn’t experience before because they were anchored to their office’s location.
Why is property investing a safe choice for investors even in uncertain times?
If you’re unsure about whether property investing is a good idea, remember that it is a lot more stable than the stock market. People will always need a place to live, even in the midst of a global pandemic.
You also have a lot more control with an investment property – you put in the work from renovations to marketing. In essence, what you give is what you get.
Will mortgage rates be on the rise in 2021?
With the pandemic, we saw mortgage rates hit a record low for the first time in a long time. This has been a blessing and a curse – it has allowed a lot of people to invest in properties they were never able to afford before.
Though the economy is expected to improve in 2021, we will probably see mortgage rates continue to stay on the lower side throughout the course of the next year.
Should people purchase a home in 2021?
Despite the low mortgage rates, home prices are still inflated. That means that the inventory on the market is limited and sellers are charging whatever they want.
However, if things really do improve in the next year, I think that 2021 will be a better time to make the purchase you’ve been planning for.
What is one trend you know will carry on into 2021?
I think so. The house flipping trend will carry into the new year. COVID-19 has forced people to get creative with making an income, and house flipping is a great way to do so.
I’m seeing a lot of millennials jumping on this real estate trend. Their creative spirit and work-from-home lifestyles allow them to pursue home-flipping as a side gig. This is also a more stable investment, especially if you’re young and don’t have a lot of money.
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