housing bubble
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- jevad0
I would say that realistically it's only going to happen in areas like SF...where housing prices are just so bloody overinflated already that the only way to go is down....and it needs to happen...
but not in denver NOT IN DENVER...thankyu
- mrdobolina0
Superbaka, I work for a construction newspaper in milwaukee (amongst other magazines and shit) and we run the Sheriff's Sales every friday. These are basically foreclosure listings for the county. These lists have about doubled in size over the past year.
- superbaka0
ive already bought and sold to get out. (investment-only property). in LA, things are really starting to look grim. for example, i sold 5% less than advertised. you would never have known i went down. people dont know prices are dropping.
- mrdobolina0
smaller markets are where all of the money is being made on housing real estate.
LA is so overpriced it is unrealistic to think that it could appreciate more. People still need to be able to actually buy the real estate in order to sell it, ya know?
- tkmeister0
i hope it'll happen in nyc as the price of real estate is way too high. oh, good thing i don't own apartment yet.
- mrdobolina0
thing about new york is that people will always want to live in the city. I dont think it is as likely that much of those rates will drop anytime soon. California is so spread out that there are alot of alternatives.
- superbaka0
i just love seeing porsches parked in driveways of houses in LA that cost $100k five years ago, directly across the street from housing projects.
- Point50
There's a bubble?
No, but seriously. We had the craziest real estate push out here in Vegas the last 2 years. Houses appreciated like crazy out here. My old roommate owned his house just over a year and made almost $80,000 on it when it sold. Now the boom has calmed a little and people are a little more level headed. I can't say that property is depriciating at all, but I know some builders have cut their prices back about 5% - 10% on new homes.
- superbaka0
only $879 for this? what a steal! looks like there might be a front door on it ...
http://www.realtor.com/FindHome/…
smack in the ghetto, too.
- SteveJobs0
is that the shooting range on the back of some 10,000 acre property?
- superbaka0
haha..nope. well, the venice ghetto is technically a shooting range, if thats what you mean.
- k0na_an0k0
879 for that!?! wow.
- superbaka0
my mistake..thats way inland from venice. but you get the point. overpriced crap everywhere in LA.
- seed0
That house looks like it's worth less than 879 dollars.
- taragee0
that look s liek wher ei hangout and smoke crack
- seed0
Maybe there's like $879K worth of crack inside.
- mayo0
Reno has actually jumped up like you wouldn't believe due to so many of the Californians making their new home here. A new housing development was being built near my work a year ago starting in the mid 300s (according to the billboards). By the time they actually broke ground and had a few models up, the lowest prices were in the 500s (which is when my sister wanted to look for something here).
- superbaka0
one thing to note in the articles i posted is that people buying for investment and not to live does not count with all the statistics about "housing being in demand".. investments are optional and often recklessly funded by the banks.
- Point50
LOL! I just saw this on the realty listing:
Bulldog Realtors
Office: 310-392-3677WTF? If I don't like their services, do I go with a Hyena Properties or something?
- yurimon0
I think because people have seen an increace in profits and wealth feeds the market main stream because everone wants to make money.
I have a secret wish for the housing market to crash so I could get a nice house.