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Old 03-22-2013, 03:08 AM
 
4,174 posts, read 2,786,931 times
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Quote:
Originally Posted by jeremy2788 View Post
Granted there were renovations.. missed over that the first time.

Expanding an Eastwood Bungalow Up and Out Swamplot: Houston's Real Estate Landscape
Thanks for the follow up! That is an amazing jump in price. Some serious money went into that rehab. Clearly Houston is benefiting nicely from the current energy boom. A few other places are seeing big jumps after being pummeled for the previous several years.

This article seems to indicate that the housing rebound might really have legs in certain markets.

http://www.nytimes.com/2013/03/21/business/economy/in-us-surprise-housing-demand-catches-industry-off-guard.html?nl=todaysheadlines&emc=edit_th_20130321

Last edited by shaker281; 03-22-2013 at 03:18 AM..
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Old 03-22-2013, 03:15 AM
 
4,174 posts, read 2,786,931 times
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Quote:
Originally Posted by ducviloxi View Post
It's funny that people refer to Houston as having a bubble and Southern California as a normal market when the reality is exactly the opposite if you look at prices relative to income and unemployment.
I think that is a cogent point. What seems to be driving these pockets of demand is extremely low inventories. Maybe we will see some jobs spring up in home building/construction finally? I've read that a big part of the unemployment number is related to construction, which virtually fell off a cliff in 2009.

Home improvement centers, like Home Depot and Lowes might benefit as well.
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Old 03-23-2013, 09:04 PM
 
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Quote:
Originally Posted by shaker281 View Post
With housing prices nationwide (on average, adjusted for inflation) being at roughly 1999 levels, I have a difficult time seeing a new housing bubble.

Real Estate Charts: Graphs of inflation-adjusted, historical housing prices.

Here is some data on North San Diego county:

HOUSING: North County median house price drops like it's 2009 | UTSanDiego.com

Hard to see dramatic price appreciation in the data.

Some markets that were hit the hardest, may have gone too far and thus resulted in short term corrections, however.
People just want to throw stuff out and hope they hit.
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Old 03-24-2013, 11:51 AM
 
Location: Waterworld
1,025 posts, read 1,176,918 times
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Quote:
Originally Posted by shaker281 View Post
I think that is a cogent point. What seems to be driving these pockets of demand is extremely low inventories. Maybe we will see some jobs spring up in home building/construction finally? I've read that a big part of the unemployment number is related to construction, which virtually fell off a cliff in 2009.

Home improvement centers, like Home Depot and Lowes might benefit as well.
I don't know, is it possible that people in the industry could artificially keep inventories low due to greed and the amount of money they are making in turn making the situation worse over time?
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