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Old 11-09-2015, 10:26 AM
 
Location: Herriman, Utah
145 posts, read 203,709 times
Reputation: 171

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So it seems the real estate in Portland and Vancouver is overinflated. Do you think the prices will ever drop?
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Old 11-09-2015, 11:59 AM
 
318 posts, read 628,512 times
Reputation: 473
Quote:
Originally Posted by vacuumbed View Post
So it seems the real estate in Portland and Vancouver is overinflated. Do you think the prices will ever drop?
Yes. And then they'll probably rise again. And then drop again. Etc.
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Old 11-09-2015, 05:53 PM
 
113 posts, read 128,001 times
Reputation: 79
Real estate never goes down, that is why it is such a perfect investment. (tongue in cheek)
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Old 11-10-2015, 12:20 PM
JYT
 
109 posts, read 125,017 times
Reputation: 61
Quote:
Originally Posted by vacuumbed View Post
So it seems the real estate in Portland and Vancouver is overinflated. Do you think the prices will ever drop?
Not without another recession.
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Old 11-10-2015, 02:55 PM
 
Location: CA, OR & WA (Best Coast)
472 posts, read 525,989 times
Reputation: 433
That's the million dollar question.

Low interest rates are the main drivers of the housing boom. While the boom is quite different than that of 2006 its real and I believe its mostly people that are finally able to get a decent price for their house. As long as owning out weighs renting and humans continue to breed and need a place to live housing costs will be up. As you all know rental costs are astronomical right now, so why wouldn't a qualified buyer opt to buy over renting with historic low interest rates?

Right now you can (if you qualify, and just using simple numbers) buy a $250K house @ 3% interest for around $1000 a month.

When interest rates are 6% that same house will cost you around $1500 a month.

And if we ever get back to the 1980's rates @ 12% your payments will be $2500 a month.

It depends on your long term goals, if you want to buy a house to live in for the next 30 years its pretty safe to assume you will be ok. If you are looking for short term there will always be risks.

I have not seen more inventory on the market, but I do see that inventory staying available for a longer period of time. It could be the time of year but by no means is it a buyers market.

It will be interesting what the rate hike will do in the short term and long term.
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Old 11-10-2015, 08:59 PM
 
Location: Herriman, Utah
145 posts, read 203,709 times
Reputation: 171
Are we expecting a rate hike?
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Old 11-10-2015, 09:57 PM
 
Location: CA, OR & WA (Best Coast)
472 posts, read 525,989 times
Reputation: 433
one of many news feeds.
Fed's Most Powerful Trio Keep December Rate Rise on the Table - Bloomberg Business
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