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Remember the Triangle doom & gloom posts, not too far back, about how the housing market was going to tank all the way to China and never recover? Anyone who bought a home in those conditions were making a huge mistake?
Well look at everything today. Funny that we never see any posts from those who suscribed to the doom & gloom outlook anymore. Not even a "nice to see how things have rebounded and as it turned out, it really would have been a good time to get into the market".
I see a lot of building of new homes in the $400-700+ range in my area. I also see most of those new homes still sitting empty.
I don't see that in my neighborhood, and the cost of entry is right around 600k, going up to around 750k (with some higher ones tossed in). Houses sell quickly here, in fact.
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LOL! Well, I guess I could say every single day that the market is going to crash and one day I will be able to say I was right. I think that is how it works.
What do you all think the level of the market is currently at? Still below the previous market high or already past that? Obviously, micro markets will vary.
LOL! Well, I guess I could say every single day that the market is going to crash and one day I will be able to say I was right. I think that is how it works.
What do you all think the level of the market is currently at? Still below the previous market high or already past that? Obviously, micro markets will vary.
I think the market is the market, and if the Warren Cartel doesn't mess lending up too much, the market will continue to function.
The funny thing about timing the market, reminiscent of John Lennon, "Life is what happens while you are making other plans."
I see a lot of building of new homes in the $400-700+ range in my area. I also see most of those new homes still sitting empty.
Two of the new homes in my neighborhood have sold recently. I tend to suspect that the homebuilders can read the market better than I can, and wouldn't be so eager to build new homes on spec if they didn't think there was demand out there. Wait until spring, and see what happens.
Also, homes in the $400 - $700 range don't strike me as being representative of the overall housing market in this area.
I see a tech and pharma downturn coming down the track and many transplants leaving after tasting our stingy unemployment benefits for 13 weeks.
That may start the housing downturn again in a big way.
Is that conjecture, gut instinct or based on recent statistical trends? I only ask because my company is increasing headcount by 20% (adding another 600 jobs in RTP) and we're fighting off the competition trying to retain our staff (Metlife is consuming massive amounts of IT resources).
I just don't see a local downturn for professionally skilled workers any time soon.
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