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So says people whose income depends on people buying homes.
Quote:
In Southern California, according to the DataQuick real estate research firm, the median home price has increased by more than 20 percent every month so far this year, the Times reported.
Signs of bubble-icious behavior? Certainly not, according to many in the real estate industry, who explained in newspaper interviews that "this time is different,"
The same is being said about Houston, Austin, Raleigh..."nah..this is no bubble" as bidding wars break out.
Austin sales are up 32% and at the highest prices in 10 years.
We were lucky the last go round and avoided the RE meltdown but I fear not this time.
Austin is the #2 most over valued market in the country according to Trulia.
The same is being said about Houston, Austin, Raleigh..."nah..this is no bubble" as bidding wars break out.
Austin sales are up 32% and at the highest prices in 10 years.
We were lucky the last go round and avoided the RE meltdown but I fear not this time.
Austin is the #2 most over valued market in the country according to Trulia.
The thing about musical chairs is that when the music stops someone is left without a chair.
These investors who are buying overvalued homes are going to default when they realize they can't sell them and make a profit. Might take a year or two or three , but it will happen
This bubble seems to be more aggressive than the last one.
The thing about musical chairs is that when the music stops someone is left without a chair.
These investors who are buying overvalued homes are going to default when they realize they can't sell them and make a profit. Might take a year or two or three , but it will happen
This bubble seems to be more aggressive than the last one.
Prices doubling in 5 months!! That is insane.
Yes it does. And the influx of new buyers into these cities seems non stop.
Yes it does. And the influx of new buyers into these cities seems non stop.
My friend is getting in on the action. He's bought condos in a couple of states and is trying to convince the rest of us to do the same. He actually said that real estate will never go down because it's tangible, unlike stocks. LOL
Believe it or not, I'm actually tempted, but I don't want to get stuck with something I can't resell.
It's hard to predict when the bubble will burst, so it's a gamble.
Does this have anything to do with the stuff I've been reading about loosening lending practices, again? Are the homes they are selling mostly ones that have been sitting idly?
Learning that 40% of the buyers here in Las Vegas are Chinese, what does that tell me!!! And I understand there's tons of Chinese buyers in Phoenix, helping to push their prices up! And how many Chinese buyers are there in the CA market!!!
I'm hoping this bubble doesn't burst before next Spring when I plan to sell my house and move to Tucson!
My friend is getting in on the action. He's bought condos in a couple of states and is trying to convince the rest of us to do the same. He actually said that real estate will never go down because it's tangible, unlike stocks. LOL
Believe it or not, I'm actually tempted, but I don't want to get stuck with something I can't resell.
It's hard to predict when the bubble will burst, so it's a gamble.
The market is just too hot right now. Bidding wars in Austin are going 10-20-30,000 over sales price.
Have people really forgotten our recent past ?
Right now is a good time to be a seller and make a quick profit.
I think 2009-2010 was the time to buy in these hot areas.
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