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Show me the stats proving South Florida housing market is currently inflated, and then we can discuss.
Go ahead and go off topic. If that is what you really want then you should have stated it a long time ago, better yet, start your own threat about South Florida's housing market. You do realize that we are debating the Housing Market recovery. That does not mean it is specific to the market you live in.
That is only true if you're speaking of just the very recent past. If the biggest homebuilder in, say, Phoenix, or Tulsa, or Chicago, builds six new houses in a month, yes, that's an improvement over the same period last year when they only built two. But next month they might only build three. And those numbers are a drop in the bucket compared to what they were building prior to the recession; perhaps hundreds of houses a month.
Median sales price in Phoenix is up by 47%. Is that good, or bad?
Go ahead and go off topic. If that is what you really want then you should have stated it a long time ago, better yet, start your own threat about South Florida's housing market. You do realize that we are debating the Housing Market recovery. That does not mean it is specific to the market you live in.
It was your own claim, and when I asked you to back it up, your reply is "it's off topic"
Have any posters here actually witnessed a housing recovery??
So far we have posters from Chicago and Orlando saying no recovery as of yet.
I have seen it in South Florida, and I posted the Orlando stats which clearly prove that recovery in under way. The Orlando person's claim is based on her walking around the block, and then declaring there is no recovery because the block didn't look too good. Phoenix median sales price is up by 47%. No recovery? Chicago condo inventory has collapesed. These are good signs, and anyone who ignores them or downplays them probably has other reasons for doing so.
Have any posters here actually witnessed a housing recovery??
So far we have posters from Chicago and Orlando saying no recovery as of yet.
I have according to market analysis but the housing market in Philadelphia has always been very stable and did not get inflated so wildly during the bubble like many other places. I also bought my house at a very good price and time IMO.
Someone is buying the condos, becuase the inventory is disappearing. Might be a good time a pick up a few and rent them out.
Of course they are selling.. but still at bargain prices, and the numbers are not accurate because they are not moving on the homes.. the house that just sold in my neighborhood, the owner did not pay the morgage for 5 years. Yes, 5 years... He lost his job as a sheet rock installer in 2007 and the home was auctioned off when they put it on the market.. they are trickling the homes onto the market to keep the people bidding higher at auction. Fact.. If they don't sell at auction, then they become an REO , bank owned home and many real estate people are buying them, flipping them usually investing under $5000 for fresh paint, new landscaping and power washing the outside , These homes don't even get on the market along with the ones auctioned off.
I have seen it in South Florida, and I posted the Orlando stats which clearly prove that recovery in under way. The Orlando person's claim is based on her walking around the block, and then declaring there is no recovery because the block didn't look too good. Phoenix median sales price is up by 47%. No recovery? Chicago condo inventory has collapesed. These are good signs, and anyone who ignores them or downplays them probably has other reasons for doing so.
I don't live in Orlando.. the number of foreclosures speaks for itself..20 thousand of them ..
Of course they are selling.. but still at bargain prices, and the numbers are not accurate because they are not moving on the homes.. the house that just sold in my neighborhood, the owner did not pay the morgage for 5 years. Yes, 5 years... He lost his job as a sheet rock installer in 2007 and the home was auctioned off when they put it on the market.. they are trickling the homes onto the market to keep the people bidding higher at auction. Fact.. If they don't sell at auction, then they become an REO , bank owned home and many real estate people are buying them, flipping them usually investing under $5000 for fresh paint, new landscaping and power washing the outside , These homes don't even get on the market along with the ones auctioned off.
Thanks fore sharing more observations from your block.
Why are the investors investing $5000 on fresh paint and landscaping if they are not going to sell them?
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