Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The market looks really good! Some people already asking 20% more than the average prices in the near neighborhood.
Seems that a correction is looming. Although, they that have bought in 2010 did a pretty good job. But buying at this moment
can mean: burning your hands. However some increase is still possible, this will not last.
I hope that i will be wrong, but those who say; 'This is the best time to invest in housing"
Did the same thing at the top of 2007 as well. I hope i have it all wrong.
The difference is that prices now are less than half of what they were in 2007, and, the crisis is ending while in 2007 it was starting. Also employment is doing better recently.
It' s in an early stage, and maybe to early to make those predictions, but i think it will all happen again.
Banks didn't learn anything from the debacle they made. Providing toxic loans to people who are not able to pay
those loans back. Only on difference, they have support from the government now.
As i am not be able to clear it all out in English, this article will do it exactly for you. http://www.globalresearch.ca/the-qua...rizon/5318695I am not pointing especially to the Cape Coral area, but globally...
I still believe Cape Coral is one of the best cities for the future, you guys have lots of opportunities.
Guess what, we (Europe) are the next bubble to burst, if i say that i saw on one road of only five miles, more than 25
properties for sale. Some of the houses are already two years on the market but don't find a new owner.
What our government is doing now is artificially keeping prices high, by new so called green rules.
In 6 years prices for new built homes rose more than 60000 euro. If you want to have a new built home you should pay approximately 450000 euro. 100000-150000 for the lot and 300000 for the home itself. Insane...
It' s in an early stage, and maybe to early to make those predictions, but i think it will all happen again.
Banks didn't learn anything from the debacle they made. Providing toxic loans to people who are not able to pay
those loans back. Only on difference, they have support from the government now.
As i am not be able to clear it all out in English, this article will do it exactly for you. http://www.globalresearch.ca/the-qua...rizon/5318695I am not pointing especially to the Cape Coral area, but globally...
I still believe Cape Coral is one of the best cities for the future, you guys have lots of opportunities.
Guess what, we (Europe) are the next bubble to burst, if i say that i saw on one road of only five miles, more than 25
properties for sale. Some of the houses are already two years on the market but don't find a new owner.
What our government is doing now is artificially keeping prices high, by new so called green rules.
In 6 years prices for new built homes rose more than 60000 euro. If you want to have a new built home you should pay approximately 450000 euro. 100000-150000 for the lot and 300000 for the home itself. Insane...
This will not last.
Link did not work for me. But I agree that no real changes were made to the insane lending practices of fannie and freddie. You still can get a loan with I think 3% down. It was 20% down when I bought my first home or you had to get mortgage insurance. But we are talking about Cape Coral and most of the homes are being bought with cash. That would make a crisis like the last one much less likely. I think prices dipped too far and now they have snapped back close to where they should be.
There are still a lot of things waiting for us in the pipeline.
Another thing what bothers me is that many wealthy Chinese are buying property like crazy.
When Greece was in (and it's still) in serious trouble, they bought and invest tons of money in Greece.
Now the US is next. We sold ourselves by buying cheap stuff. We all were tempted by the possibility
to receive more for less money. The benefit of the USA is that many people confess that it was wrong.
I am sure that in the future many good old stuff will return back to the States.
Contrary to Europe which you can see as a totally different nation. ( It's not a really nation)
But you can divide Europe in 2 parts. Western and Eastern Europe. Big companies leaving Western Europe
for either Eastern Europe, or the BRIC's. Another way to divide Europe is the North and the South.
The south is suffering at this moment, but on long term so will the north as well.
You cannot expect from the German engine, that they will keep donating money to the south our distressed
countries.
Regardless the government debt, the come back of mostly companies to the US, that will be the strength
in contrary to Europe, where there's no unity at all and probably will not be in the next decades from now.
Also, by 2020 (or further) the US could be doing a great deal by using his own commodities.
And last thing about Bubbles, China's bubble will burst as well, that's only a matter of time.
What we see now is hard for many of us, those who lost their homes, or those who are still fighting to
hold their belongings. But you need to recognize all this stuff as one big interesting moment. We come slightly to the next big event in human history. What that will be, who knows?
There are still a lot of things waiting for us in the pipeline.
Another thing what bothers me is that many wealthy Chinese are buying property like crazy.
When Greece was in (and it's still) in serious trouble, they bought and invest tons of money in Greece.
Now the US is next. We sold ourselves by buying cheap stuff. We all were tempted by the possibility
to receive more for less money. The benefit of the USA is that many people confess that it was wrong.
I am sure that in the future many good old stuff will return back to the States.
Contrary to Europe which you can see as a totally different nation. ( It's not a really nation)
But you can divide Europe in 2 parts. Western and Eastern Europe. Big companies leaving Western Europe
for either Eastern Europe, or the BRIC's. Another way to divide Europe is the North and the South.
The south is suffering at this moment, but on long term so will the north as well.
You cannot expect from the German engine, that they will keep donating money to the south our distressed
countries.
Regardless the government debt, the come back of mostly companies to the US, that will be the strength
in contrary to Europe, where there's no unity at all and probably will not be in the next decades from now.
Also, by 2020 (or further) the US could be doing a great deal by using his own commodities.
And last thing about Bubbles, China's bubble will burst as well, that's only a matter of time.
What we see now is hard for many of us, those who lost their homes, or those who are still fighting to
hold their belongings. But you need to recognize all this stuff as one big interesting moment. We come slightly to the next big event in human history. What that will be, who knows?
Regarding the article. Are the banks forcing people to borrow money they can't afford to pay back? Actually the government is forcing the banks to provide these loans. Banks made a nice return when home buyers had skin in the game. They don't need to make bad loans to make money.
The truth all about this is that investors are playing with us, they bought tons of houses when the market was completely down. Now they stop buying, but the prices rising like crazy. Ok average prices are still far away of where they used to be.
But this is only a matter of time mate. I saw contractors saying that they have still plenty of work.
One of them was honestly asking, why want people build as many new houses? He was very concerned about what the verdict will be. Banks will not force people to borrow the money, but who says that they will not provide loans to people
who maybe are in risk? Do you know the speed of the increase in price is actually hitting the same pace like 2006?
In some area's, to be clear. Now the government can keep borrowing money until may 19th.
This recovery was based on speculation, imo it's better to wait on the sidelines because the risk is really high.
I am waiting to see the sales of january. Now that we actually are in the high season, they should be booming.
Very interesting what happens nowadays. Unfortunately, many of ours see black skies or fighting to keep their
finance above the water.
The truth all about this is that investors are playing with us, they bought tons of houses when the market was completely down. Now they stop buying, but the prices rising like crazy. Ok average prices are still far away of where they used to be.
But this is only a matter of time mate. I saw contractors saying that they have still plenty of work.
One of them was honestly asking, why want people build as many new houses? He was very concerned about what the verdict will be. Banks will not force people to borrow the money, but who says that they will not provide loans to people
who maybe are in risk? Do you know the speed of the increase in price is actually hitting the same pace like 2006?
In some area's, to be clear. Now the government can keep borrowing money until may 19th.
This recovery was based on speculation, imo it's better to wait on the sidelines because the risk is really high.
I am waiting to see the sales of january. Now that we actually are in the high season, they should be booming.
Very interesting what happens nowadays. Unfortunately, many of ours see black skies or fighting to keep their
finance above the water.
I could anticipate some leveling off of sales. The people that were waiting for a good buying opportunity have already bought! Now there should be a more normal rate of sales from new retirees and more employed people.
I could anticipate some leveling off of sales. The people that were waiting for a good buying opportunity have already bought! Now there should be a more normal rate of sales from new retirees and more employed people.
That's what i am expecting as well, but with all those headlines of: "No better time to invest in real estate than now", you should think it must booming again.
Nobody is a soothsayer and so nobody can exactly predict what will happen in the future, but i guess that it takes no rocket science to see that it is at least for granted that we should be careful.
With a historical low interest-rates, artificial low shadow inventory, 45billions a backing for banks, more than 30% investors who buy foreclosures, only 30% move-up buyers, People living in a foreclosure house and not paying any penny back during more then 2 years without booted out the property, contractors who are likely
to build a lot new homes, high unemployment rates, low wages, this prices are manipulated.
I am sorry that i take the same words as Equal but this time he has a good point. This prices are not the result of a healthy market but simply the result of manipulation. "Keep supply low to increase prices."
What will happen as interest-rates go up again? What will happen when prices keep on rising? Will people who currently under water willing to stay in their houses or will they see a chance to escape their mortgage?
Will the investor-companies who bought for millions stay in the market, when they have made enough profit?
That on so much other questions without no answer... Imo it was way better to learn from mistakes so that they at least not happen again. Let the market cure it self. Don't push the market in any direction in the hope that it will solve the problems.
Be careful, imo if you want to invest an make money on very short term than you are possibly sitting on a treasure. But if you want to buy a house for the long term, you are probably sitting on the next time bomb.
Thanks to one stupid stupid home, my eyes have opened. Last year, i was one of us who was thinking
that this was the best opportunity in my lifespan to buy an American house. I was thinking "finally the recession has ended, it time for a new start". I would never have thought like i did today. If i had bought already that property, i should have been blinded by the yield. Not feeling the need to do some research, i would probably have believed what all the mainstream media had to say about this phenomenon.
With the research i am almost sure that there will come better opportunities within some time.
And hopefully then with a sustainable renounce and not this imo deadcat-bounce.
I hope you don't miss the boat and wait so long that you can not afford the home you want. My feeling was that as long as I knew I could comfortably afford my CC home I would buy it and not care if prices went up or down. It turns out that if I had waited I would not have been able to afford a house as nice as the one I bought in 2009. Good luck to you.
With the research i am almost sure that there will come better opportunities within some time.
And hopefully then with a sustainable renounce and not this imo deadcat-bounce.
Have a nice weekend...
I couldn't disagree with you more. I first came here about two years ago to see if it was where I wanted to buy a house. At that time there were a lot of boarded up business and homes and every other house, it seemed, had a "for sale" sign in the yard. Prices were extremely low.
Last year I came back to buy and immediately saw almost no boarded up buildings and/or half finished homes. Also, there were many fewer "for sale" signs. In addition, the prices had risen.
Today, I believe the value of my house has increased at least 20% over the last year and that it would still be a bargain for someone to buy it from me at 120% of what I paid.
You will never be able to predict with any certainty where the market is going--too many factors involved. If now isn't a good time to buy in Cape Coral there never will be one, IMO.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
