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Last year, I bought a lovely home in a good area, and I had to outbid two other buyers to get it. I'm told that this year, the market is even hotter, and that houses are being sold within hours of being listed.
I've got a couple friends that are Realtors, and they're telling me that the market is super-heated right now with no sign of cooling off.
Have we come to the end of another real estate cycle? Are prices going to drop off a cliff soon?
Last year, I bought a lovely home in a good area, and I had to outbid two other buyers to get it. I'm told that this year, the market is even hotter, and that houses are being sold within hours of being listed.
I've got a couple friends that are Realtors, and they're telling me that the market is super-heated right now with no sign of cooling off.
Have we come to the end of another real estate cycle? Are prices going to drop off a cliff soon?
At this point, in the pacific northwest, home prices are still escalating. I'm sure there is an end in site, but we're not there yet. Houses are becoming unaffordable for many first time buyers.
I kinda have the same feeling, but not really a crash so much, more so things just leveling off. I'm shopping for a rental property right now and homes that IMHO should be going for like 90k to 115k are going for upwards of 160k. Again though who am I to dictate what a property is worth, if people are willing to pay 160k that's what it's worth.
Last year, I bought a lovely home in a good area, and I had to outbid two other buyers to get it. I'm told that this year, the market is even hotter, and that houses are being sold within hours of being listed.
I've got a couple friends that are Realtors, and they're telling me that the market is super-heated right now with no sign of cooling off.
Have we come to the end of another real estate cycle? Are prices going to drop off a cliff soon?
No, prices in many areas are just going up to what they were before the crash or a little higher to make up for inflation since then. And there are no easy mortgages. Trump I think is trying to change the Dodd-Frank Act but I think it's still in place and underwriters want you to document and explain everything including a small deposit which was a simple rebate check. Lenders and banks are being held accountable. Starter homes or lower cost entry homes are the ones that have gone up the most, but mid priced homes in my area are still available and affordable.
Yes there will be another real estate crash. There always is. Realtors and others always say no way, not this time it wont happen. Then it does. Repeat over and over and over.
When will it happen? If someone could accurately predict that, the wold be a multi-billionaire.
If you define cusp as being the next 50 years, definitely. The next 10 years, probably, the next two years, no one knows or can guess with any reliability.
Last year, I bought a lovely home in a good area, and I had to outbid two other buyers to get it. I'm told that this year, the market is even hotter, and that houses are being sold within hours of being listed.
I've got a couple friends that are Realtors, and they're telling me that the market is super-heated right now with no sign of cooling off.
Have we come to the end of another real estate cycle? Are prices going to drop off a cliff soon?
I kinda have the same feeling, but not really a crash so much, more so things just leveling off. I'm shopping for a rental property right now and homes that IMHO should be going for like 90k to 115k are going for upwards of 160k. Again though who am I to dictate what a property is worth, if people are willing to pay 160k that's what it's worth.
Same as in my area. Although some are priced correctly there are a few smaller homes that are 30% overpriced. In my area a small 3/2 about 900 sq ft was asking for $150K. They lowered it to $145K but at most with some low end upgrades that were done it should not appraise for any more than $110K if that. There are better and bigger homes for about the same price so they need to find a special sucker to fall for this one.
Then again less than 2 years ago investors bought a tiny 2/1 600 sq ft for $55K when it would have appraised for maybe $40K or less and are renting it out. Also a 2/2 bigger 1300 sq ft on a double corner lot with an unattached 2 car garage sold for $150K when it was worth about $100K at the time. So if they find investors or people from up north with cash they can sell for their asking price.
Yes there will be another real estate crash. There always is. Realtors and others always say no way, not this time it wont happen. Then it does. Repeat over and over and over.
When will it happen? If someone could accurately predict that, the wold be a multi-billionaire.
If you define cusp as being the next 50 years, definitely. The next 10 years, probably, the next two years, no one knows or can guess with any reliability.
When was the previous one before 2006 because I don't remember it. I don't see a crash unless the banks and wall street find another scam to pull on the American public. A cooling off yes, a crash, no.
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