How is this a housing bubble? (money, unemployment, jobs, inflation)

[shaker281]

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.

[lvoc]

Originally Posted by shaker281

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.

The North Country article is 18 months old. SD is up about 10% in the last year according to Case Shilller.

[shaker281]

Originally Posted by lvoc

The North Country article is 18 months old. SD is up about 10% in the last year according to Case Shilller.

Right, but still not the 5-9% per month I was responding to. And a 10% annual increase after a severe drop doesn't foretell a bubble.

Can you point me to data showing Buffalo or Vegas have "doubled in the past year"?

[lvoc]

That is a particular tract in Las Vegas. Prices in that tract have gone from under $50000 to just over a $100000

[jeremy2788]

There are houses in the Houston city limits that would have sold for $80k last year that are now selling for $400k. Sooooo..

[shaker281]

While Houston is indeed experiencing a boom, I cannot find any evidence to support 500% price increases.
Links?

[shaker281]

Without details these claims are meaningless or perhaps isolated. I'd love to see details (links?). But no one seems able to provide specifics.

Chart? Graph? Article? Listing? Sales data?

I did find this:

http://www.cnbc.com/id/100522314

[jeremy2788]

Granted there were renovations.. missed over that the first time.

Expanding an Eastwood Bungalow Up and Out » Swamplot: Houston's Real Estate Landscape

[jm1982]

Wow that's amazing regarding the Houston Market. I don't live in TX , but bought some condos for $10k years in 2007 I believe. It looks like they start at $15k now.

It's amazing though that the desirable niche areas in certain cities/areas can sell for such huge amounts. It doesn't match up with the news data that "home prices are up 10%" or whatever . Of course most of these properties have significant renovations but still...I am sure there are huge profits on these flips in these areas.

[ducviloxi]

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.