Annapolis Investors React to Wall Street Record-Breaking
DAVIDSONVILLE, ANNAPOLIS, EDGEWATER, ARNOLD AND SEVERNA PARK REAL ESTATE
As you’d expect, the Wall Street Journal had a hard time keeping up with the head-spinning reverses and double-reverses in its namesake roadway’s fortunes. Annapolis investors with holdings in the sometimes-plummeting, sometimes-soaring equities weren’t alone in being unsettled by the whip-sawing proceedings. In truth, just about everyone with an IRA or other retirement stake had reason to do some serious brow-furrowing. Annapolis real estate investors would have been somewhat relieved to read WSJ columnist Esther Fung’s mid-week commentary, “Investors Flock to Self-Storage, Rental Housing as Safety Plays”—if only as a counterpoint to Wall Street’s record-shattering volatility. The focus was, naturally, more equities—in this case, the REITs (Real Estate Investment Trusts)—but the underlying facts were reassuring for Annapolis landlords. The author’s research confirmed that during “times of uncertainty,” landlords are well-positioned to buck the downdrafts. “Residential property landlords say that rental housing…tends to hold steady during recessions,” was the gist for Annapolis investors. The reason for lower resident turnover rates was the tendency of people to shelter in place during “periods of uncertainty.” At week’s end, the declaration of a National Emergency surely qualified this period as one of those. If you are one of many Annapolis investors who is currently reviewing your own holdings, this might be an opportune time to take a look at how one of the Annapolis residential properties now on the market might be a good fit. Call me if you’d like to discuss what’s currently available!
DEBORAH LAGGINI, Long and Foster Real Estate, Annapolis, MD 21403
REALTOR, Annapolis, Davidsonville, Edgewater, and Surrounding Communities