October 5th, 2007 by 
admin
Losing a family home — a place to call one’s own – can be devastating. The primary aim of the Gulf Opportunity Zone Act of 2005 is to help the people affected by Hurricane Katrina to get back on their feet.
Recovery in the Go Zone has been amazingly rapid — conservative estimates state that about 5,000 people still live in tents, and 30,000 still live in trailers. Unfortunately, the FEMA programs are approaching their government-mandated deadlines, and thousands of people must find housing in the Go Zone, and quickly.
That’s not all: The numbers could be as high as 10,000 people in tents and 40,000 people in trailers, making the housing need even more critical within the Go Zone. In short, residents of the Gulf Opportunity Zone are clamoring for housing. The market is strong, it’s competitive – and it’s expected to increase steadily over the next several years.
Mississippi has a lot of renters – about 30 percent of its population prefers to rent homes. In the Go Zone, rental properties are sorely needed. Currently, homes rent from $1,000 to $1,300 per month, and many exceed that range. The Go Zone has residents of varying incomes. Some people need low-cost, but quality housing. An investor who takes advantage of Go Zone Act’s government incentives can build multiple properties for low-income folks. Then, he or she will see an amazing return on investments, significant tax savings – and, best of all, will help a group of Biloxi residents to find quality place to call home.
The phrase “housing bubble burst” comes up often in everyday conversation, and it’s a scary thought: People in highly populated areas such as Los Angeles and Manhattan face the real threat of property value declines as prices rise and people sell their properties. When that happens, housing demands plummet and prices fall.
There’s little chance that this will happen in the Gulf Opportunity Zone. Characterized as a “bust-free market” by CNN Money, Biloxi is one of the best-performing real estate markets in the country, with property values increasing, on average, at a rate of 15.7 percent each year. When housing demand is as high as it is in the Go Zone, a commercial real estate investment can only offer tax savings and financial growth potential.
People living in the Gulf Opportunity Zone have been energized by the Go Zone Act of 2005. With the government’s help, they’re recovering the city of Biloxi that they love and stand by. They count on Go Zone investors to keep living, working, and thriving every day.
- The Gulf Opportunity Zone is one of the fastest-growing housing markets in the nation.
- Economic recovery has been growing rapidly, as a result of the 2005 Go Zone Act.
- Go Zone residents living in FEMA trailers need housing quickly.
- The Go Zone’s market offers amazing growth potential.
