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.
there will certainly be a bubble at some time, in some place. where it begins depends on telling us your location and why you think your location is bubbling.
Fla.
Growth is largely among low wage earners. Prices close to bust prices. Too transient. People always coming and going. Too many investors.
If a housing bubble is a run-up in housing prices fueled by demand, speculation and the belief that recent history is an infallible forecast of the future, then some areas may well be riding the bubble now. Florida seems to have a volatile real estate market.
If one merely drew a 3-4% line from 2004 to know, how would prices compare?
Just because prices today = prices 8 years ago, that's no way a bubble.
I will say, anecdotally, that I was surprised on a recent flight to see numerous $$$ lux high-rise condos again in Miami. But the population irrelevant buyers - occupant buyers - may be enough to absorb them.
Investors look for returns and diversity. When they feel their portfolio is diverse enough, and find higher returns, then they'll reduce their residential real estate purchases.
But if you hear 25% of sales are investors, and supply is 30 days, then eliminating the investors wouldn't make your supply over 90 days, would it? It would bring some sanity to DOM.
HA, all these "ITS OK THERE IS NO BUBBLE" REs really make me feel the opposite. I know its the new thing to call bubbles, but OP has a point. The market the way it is today is built on bubbles, look at the dow since 1998 it looks like a run up and a big crash 3 times now... to say there is NOT a bubble is completely false.
Home prices have grown exponentially since 2011 and the home ownership rate keeps declining. In fact, when its being shouted from the rooftops especially by realtors that we are NOT in a bubble or even close, then I like to think otherwise. May not be as big of a fall as a 2008 scenario but it will probably "level out" and trend lower for years to come ala a lost decade type scenario.
Home prices have grown exponentially since 2011 and the home ownership rate keeps declining. In fact, when its being shouted from the rooftops especially by realtors that we are NOT in a bubble or even close, then I like to think otherwise. May not be as big of a fall as a 2008 scenario but it will probably "level out" and trend lower for years to come ala a lost decade type scenario.
The word "bubble" has been tossed around so much that it doesn't mean anything these days and that's not a very big deal. But "exponential" is a necessary word and can't be let go without a fight. Prices are up and ownership is down, but neither change is close to a magnitude that would be called "exponential" unless you get all smart about how raising something to the power of 1 is technically an exponent.
If one merely drew a 3-4% line from 2004 to know, how would prices compare?
Just because prices today = prices 8 years ago, that's no way a bubble.
I will say, anecdotally, that I was surprised on a recent flight to see numerous $$$ lux high-rise condos again in Miami. But the population irrelevant buyers - occupant buyers - may be enough to absorb them.
Investors look for returns and diversity. When they feel their portfolio is diverse enough, and find higher returns, then they'll reduce their residential real estate purchases.
But if you hear 25% of sales are investors, and supply is 30 days, then eliminating the investors wouldn't make your supply over 90 days, would it? It would bring some sanity to DOM.
Real estate agents opinions on house prices are biased and irrelevant.
You have a job of keeping the prices as high as possible. You guys were screaming "there is no bubble" back in 2007 too.
Listening to a real estate agent talk about house prices is like listening to a used car salesman talk about how much his 1994 Camry is worth.
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.
