Vacation-Home Markets Heat Up
By Joe Light, The Wall Street Journal
If you’re thinking of buying a second home in the next five years, this might be your best opportunity.
After being battered during the housing bust, the vacation-home market is showing signs of life. Reports of bidding wars are trickling out of some of the locales that bore the brunt of the housing bust, and brokers in other markets, while not sounding the “all clear,” at least say conditions aren’t getting much worse.
Near-record-low mortgage rates, bargain prices and dwindling home inventories are bringing some once-untouchable markets within reach for the first time in a decade, say housing-market experts.
