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Old 01-01-2019, 08:27 PM
 
2,799 posts, read 2,089,349 times
Reputation: 2037

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Quote:
Originally Posted by QuilterChick View Post
This:

For a price that a qualified buyer is willing to pay, and at the price a seller is willing to accept.

Right. Last summer a San Francisco house on the same block as mine with a similar floor plan sold for 1.7 million.

I really don't know how long this will last. I don't expect home prices in SF will ever return to what I paid for the house in 1996 ($250,000.) However, if prices do drop it will be by several hundred thousand dollars at least.

So I am getting out now while it is still a sellers market.
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Old Yesterday, 09:04 AM
 
Location: NYC
11,985 posts, read 7,964,976 times
Reputation: 12971
Media sales have fallen a bit but the bubble still exist in many hot spots. If you live near major job hubs it's not going to end anytime soon.
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Old Yesterday, 09:42 AM
 
Location: Lakewood Ranch, FL
5,182 posts, read 7,786,354 times
Reputation: 6110
I don't know if this will be of much comfort to you but I thought you might like to see a historic trend graph for Lake County sales. I don't know the area so I don't know what is happening on the ground but this looks pretty good.




Last edited by bbronston; Yesterday at 09:50 AM..
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Old Yesterday, 09:43 AM
 
2,471 posts, read 3,108,397 times
Reputation: 4829
What bubble? All data for the past several years has shown a short supply of housing. With that being said, you always have markets here and there where morons run the prices up trying to flip or there is some sort of local hype that doesn't pan out. Also, home sales just about always slow down through the holidays and winter and then pick back up.
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Old Yesterday, 09:54 AM
 
4,595 posts, read 11,665,515 times
Reputation: 3128
Quote:
Originally Posted by corpgypsy View Post
I think it is upon us! Yes to the OP. Nationally.
Nationally..... #getreal

Last edited by TimtheGuy; Yesterday at 10:04 AM..
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Old Yesterday, 10:03 AM
 
4,595 posts, read 11,665,515 times
Reputation: 3128
Quote:
Originally Posted by britinspain View Post
I am currently watching the property market very closely, 2 years ago prices were rising by the day and I jumped in buying my first house in Florida unseen and thankfully landed lucky, I then bought another last year after finding I liked the area, my first house is now rented and the second house I use for myself.

I was going to invest some more money in Spain where I live for most of the year but have now noticed a change of direction in the local market in Florida and have turned my attention to the possibility of a recession on the way and a possible buying opportunity.

Standard 3 bed 2 bath houses that were being sold in a matter of weeks several months ago are now on the market for a few months and prices are being reduced by the week in many cases, flippers look to be hurting most with houses they’ve remodeled sticking, resulting in them reducing prices to try to find a buyer, I believe these flippers will be paying finance while their investment sits empty so this isn’t good for them.

Does anyone else think the tides already turned in the property market ?
"Has the bubble burst?"

People really need to stop using the term bubble so loosely. #dumb
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Old Yesterday, 10:05 AM
 
4,595 posts, read 11,665,515 times
Reputation: 3128
Quote:
Originally Posted by dijkstra View Post
What bubble? All data for the past several years has shown a short supply of housing. With that being said, you always have markets here and there where morons run the prices up trying to flip or there is some sort of local hype that doesn't pan out. Also, home sales just about always slow down through the holidays and winter and then pick back up.
+1
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Old Yesterday, 02:37 PM
 
Location: Phoenix, AZ
1,389 posts, read 549,161 times
Reputation: 3267
Quote:
Originally Posted by Cinco Ranch View Post
Housing market will never crash again. Prices are still on the rise, homes are selling, life is great.

We won’t have another real estate crash like 2008 again sorry to disappoint!
That's what they said after the savings and loan debacle in the 1980s LOL.


The only thing we learn from history is that we don't learn anything from history.
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Old Yesterday, 07:01 PM
 
1,192 posts, read 386,645 times
Reputation: 1488
Quote:
Originally Posted by Cinco Ranch View Post
Housing market will never crash again. Prices are still on the rise, homes are selling, life is great.

We won’t have another real estate crash like 2008 again sorry to disappoint!

Be careful.
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Old Today, 02:40 AM
 
Location: Malaga Spain & Lady Lake, Florida
318 posts, read 61,461 times
Reputation: 347
Quote:
Originally Posted by Cinco Ranch View Post
Housing market will never crash again. Prices are still on the rise, homes are selling, life is great.

We won’t have another real estate crash like 2008 again sorry to disappoint!
And this is exactly why crashes happen.

People have short memories, I’ve experienced 3 recessions now and each time they said it wouldn’t happen again.

People believe property will continue to rise, it never does, it goes up and it comes down again, call it bubble, cycle or boom it’s all the same.

People panic and jump in, just like a ponzi scheme, leaving the winners the ones who got in first and the losers the last to join.

We are now at or approaching the end / top of the current cycle, people have overstretched themselves and interest rates are rising, the jobs market will slow and property prices will fall like they always do.

Last edited by britinspain; Today at 03:26 AM..
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