Nick Vertucci Spotlights the Impending Housing Crisis in California

While California enjoys a booming tech industry, surging tax revenues, decreasing unemployment and overall wage increases, some residents of the state are struggling to find affordable housing. When factors such as cost of living are considered, California has the highest poverty rate in the nation. Evidence of this is seen on city streets as some residents make RV’s and vans their homes. Even some high wage workers endure long commutes as they are unable to live in close proximity to their workplace. Housing costs have jumped over 75% in recent years and the cost of owning a home is out of reach for many.

 

Nick Vertucci, a real estate expert, has spent years educating himself about the housing industry. He predicts that a tipping point is on the horizon as new housing development in California cannot keep pace with demand. The state Senate has recently passed a bill that would boost construction of lower and middle-income housing. They are currently in talks with Governor Brown to get this legislation passed. This bill would give greater authority to the state to move forward with much-needed housing development and greatly curtail the power of local authorities to block its advance. As a successful real estate investor, Nick Vertucci knows this industry and believes that Sacramento will be forced to act as demand for relief from housing shortages grow.

 

Some residents and community leaders are wary of this legislation believing that it would encroach on their ability to make decisions in the best interests of their communities. Additionally, some cities prefer to encourage commercial development rather than the construction of much needed affordable housing. Politicians may be concerned that opposition to the bill may have a negative effect upon them at the ballot box. Nevertheless, a strong grassroots push for its enactment may be enough to get this bill over the finish line.

 

Nick Vertucci overcame financial setbacks to build a multimillion dollar company. As a result of the dot-com bust in 2000, he suffered a grave financial setback. Determined to rebound, he studied real estate and through hard work and perseverance was able to become a successful real estate investor. With a desire to educate, Nick Vertucci founded the NV Real Estate Academy to help others attain financial success. https://twitter.com/nvrea?lang=en

INTERESTS ON NEW YORK REAL ESTATE

Many large enterprises are now developing a new interest in the New York City luxury real estate sector. This industry has been subjected to many changes in the previous years which have caused the high prices that are now in place. It was anticipated that prices in the New York real estate would go up. This became the sole reason for the increased interests in this sector. The high rates have motivated many of the companies that are now entering the real estate sector in New York. However, there are other national plans which aim at uplifting the local brokerage companies in the real estate sector in New York. Brokers are now expected to up their game and stay self-sufficient in their practices. Marketing is to take a new dimension with such expectations being made to brokerage companies. The self-sufficiency that is expected to be seen in real estate broking companies is for them to understand their networks better.

Town residential company is a brokerage and property marketing company that deals majorly on real estate marketing. The company was founded by Heiberger in 2010 and the growth that it has recorded for that time is impressing. Town Residential is now among the real estate brokerage companies that can get recognition in New York. The owner of this company founded another real estate company which is now ten years old and has been the motivating factor behind the growth of Town Residential’s founding.

Town residential depend on the cash buyers as its established client network. This company has over 800 agents who take the biggest part of the commission. The company recently considered investing near the city. This, therefore, implied that it would limit its investment in the suburbs. The same factor has driven this that the company is reliant on the cash buyers. This lot of buyers is now moving towards the city whereby they want to be near to their children and grandchildren. Town residential company is taking full advantage of its loyal client base, and its established network to bring out the best from the New York real estate company.