When Our Troops Come Home

A relatively frequent question I hear inside our community is whether or not I see an correction occurring in the housing market, or if our current situation (home prices and financing solutions) is stagnant and will not change for some time.

This is a difficult question to address - after all different regions of San Diego will have different reactions to market changes, and we are all susceptible to rising interest rates which could curb home buying faster than you can check my spelling. Unfortunately market changes like rate fluctuation we will have to take in stride. Other market changes however we can plan for, and look to take advantage of.

One such change I believe will benefit the San Diego community are our overseas troops returning from their international stations. If you think about it San Diego has the largest Naval Base (Naval Base San Diego) on the Western seaboard, and the largest Marine Base (Camp Pendleton) on the West Coast. When our troops come home from overseas we could see a surge in the housing market as our armed forces members look for places to live. With overseas pay being nontaxable, the vast majority of our armed forces members should be coming home with a decent nest egg that could be used as a down payment for a new home purchase.

Then again there is VA financing up to 100% without mortgage insurance for those that decide to buy a a new car instead of using the money to put down on a home. The point is our armed forces members make a good living and are going to be needing homes. Whether they rent or buy, this influx will be good for the San Diego economy, and in my opinion will help our housing market.

We owe tremendous gratitude to our troops for serving. A sincere thank you. I truly look forward to the chance of serving our men and women in uniform upon their return with any home financing solutions they may need. What can you do to show your thanks? What are your thoughts on our troops returning home and their impact on our local economy? Your comments are welcome.