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All it's going to do is cause more people to want to move to Atlanta when they realize they can live in a large metro(5M+) and still find houses that cheap.
The percentage growths for California metros are stellar; head and shoulders above most metros. The California housing market is bouncing back furiously, along with the rest of the Southwest.
Amazing no doubt but it's fueled by low interest mortagages. When interest rates rise, there's not sufficient income to sustain it. I predict this is a housing bubble that's going to pop within 5 years tops particularly in California but also to a lesser extent in other high housing cost metros.
Amazing no doubt but it's fueled by low interest mortagages. When interest rates rise, there's not sufficient income to sustain it. I predict this is a housing bubble that's going to pop within 5 years tops particularly in California but also to a lesser extent in other high housing cost metros.
Ok, but don't you think banks are being a little more vigilant about who they lend to? They days of zero downpayment and the like are long gone.
What's surprising to me is how many Southern metros are ahead of it.
750k+ metros in the South
Miami - $251,000
Austin - $231,300
Virginia Beach - $200,000
Raleigh - $198,800
Houston - $189,000
Dallas - $181,800
Charlotte - $180,100
New Orleans - $176,900
Nashville - $175,500
Baton Rouge - $173,900
Birmingham - $173,700
Jacksonville - $166,500
Orlando - $161,100
Greenville - $159,600
Knoxville - $152,600
Oklahoma City - $149,100
Columbia - $148,200
Tulsa - $146,900
Louisville - $146,200
Tampa - $145,700 Atlanta - $143,300
Memphis - $136,200
No data on Richmond. And no, this isn't the start of a 'what's in the South' discussion.
I believe that price range has a lot to do with so many people being under water on their homes. It's really sad actually. Their market was decimated by the crash.
I believe that price range has a lot to do with so many people being under water on their homes. It's really sad actually. Their market was decimated by the crash.
Miami beat the odds and rebounded a whole lot quicker than anyone would imagine. Its also astounding that a lot of it is based on the strength of foreign purchases.
On CNN I saw developers were saying that developnents that were stuck at below 10% occupancy are running out of space now
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