Much has been written recently about the exodus from the NYC area to Connecticut. Connecticut is finally one of the hottest markets in the country, thanks to proximity to New York along with privacy and open space. Residential prices are going up quickly, and supply is short.
And what do we know about the relationship between residential markets and commercial ones? Commercial needs follow the people who move into the residential spaces. Once there are more residents, there becomes increasing need for retail and rental units in particular, but also for office space and even investment and industrial properties.
This is especially true before the election. With plenty of uncertainty, the stock market is bouncing around. Tangible property is looking better and better. Why not invest in a growth area, and take the money out before stock prices possibly tumble?
In addition to that incentive, there is the added benefit of lower interest rates before any election, especially a presidential one. That will lower the cost of buying even further. Banks are eager to lend, and it's a good time to shop for credit.
It's hard to imagine such a rosy report, given what most of 2020 has been like, but there you have it--the silver lining we've all been seeking.
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