'Diverse selection' of second-home markets in the US

Almost every real estate market in the US can appeal to second-home buyers, it has been observed.

The National Association of Realtors (NAR) highlighted the comments made by experts at the recent Resort and Second Home Forum, which took place as part of the 2011 Realtors Conference and Expo.

According to the speakers, Americans see the value in owning a second property, either as a holiday home or for investment purposes.

This assertion is backed up by figures from the NAR, which show that 27 per cent of all house purchases in the US in 2010 were for this kind of asset.

As well as purchasing real estate in popular vacation locations, investors also target cities with universities, with former NAR president Richard Mendenhall noting that this is the case in Columbia - his local area.

Meanwhile, attendees at the Legislative and Political Forum at the expo heard that the US government needs to make the country's housing market its top priority.

Political media consultant Alex Castellanos pointed out that owning a home has social benefits, as well as financial ones, and he stated: "Until the housing market is restored, the nation and economy can't move forward."
 

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