Industry News

Social Security dollars could fuel another real estate boom

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It's difficult to pick up a newspaper these days or turn on the news and not hear the talk, both pro and con, for privatization of the Social Security system – especially after Wednesday night's State of the Union address. On the Westside of Los Angeles, where most people don't have to worry about their retirement dollars if the equity in their house continues to rise at this rate, the talk is whether or not the government will really allow people to invest the money however they want and whether real estate will be one of those benefactors. "It could be a huge boom to the real estate industry," a friend commented over coffee this morning. Imagine how attractive it would be to invest Social Security dollars in real estate if people keep reading about the double-digit returns, especially for those who have been earning less than 1 percent on their investment in a money market account, he added. "Do you really think that there will be freedom to invest this money in anything but ...