Posted on 07/21/2005 6:51:12 AM PDT by thinking4me
Worried about the housing bubble, stay updated, go to http://www.moneyfiles.org/temp.html , an educational website dedicated to the economics of the Founding Fathers. Ps: seeking volunteers.
Cities like Detroit, Providence, and Denver are at risk, but the other markets are all popular with foreign investors. In the event of economic trouble and a drop in the dollar, a steady flow of foreign investment capital should not only keep those markets up, but probably push values to even more insane heights. I've said all along that when the crisis comes, it will be the markets that don't seem to be overvalued right now which will be hit hardest.
Yup, I'm sure this is my fault too, since we bought a house in S. Florida last year! Sharks....hurricanes...housing bubbles......
susie
Terrible analysis by PMI.
Most of these are just large markets where the price of housing is going up at higher rates than other areas.
You cold just come up with the list of highest percentage sales increases and do just as well.
There is no bubble coming for another 2-3 years but it will make great story writing and the sky is falling catastrophe...
zzzzzzzzzzzzz
I am selling my place on Boston's North Shore. I am taking the money and running. I wish they would hold off on articles like this for another 2 months till after I sell.
Housing prices in the Twin Cities have climbed an annualized 9% over the past three years. Still, PMI places the odds of a downturn at one in four. With Northwest Airlines, a major area employer, facing problems, job growth and payrolls are stagnating
This article begs to differ.
When you sell in MA - where will you go?
It's great from a property tax standpoint, but lousy for those who may need a home equity loan.
Number 1. should be New London, Connecticut!
We are building a house in Wilmington NC. twice the space at half the price.
We looked to buy in Wakefield but what I found for $500K, I would not have wasted the match to burn the place down.
Today's Sarasota Tribune chronicles the good fortune of 67 Condo owners that bought for $38,000 and will soon sell for $777,000 to $1,200,000!
FLORIDA IN THE 1920'S: THE GREAT FLORIDA LAND BOOMMy favorite story of the 1920s scams was of the drivers of touring cars who were to take prospects around the developments, many of which were called "... Hills," like "Lauderdale Hills," & etc. The drivers were trained to speed up and slow down occasionally, as if they were climbing and descending actual hills.
To quote Carl Hiassen, it ain't "nothing a good hurricane can't fix..."
It's a bubble but some areas won't go down as much as you might think. Take Boston, for example. No jobs are coming in but students are. All the 1 and 2 bedroom condos are being snapped up by parents of kids coming to school here.
It used to be it was just the kids from places like Korea and the middle east who were living in the very high end condos - including some of Bin Ladin's relatives. Now it's kids from CA and NJ who 'rent' the units from their parents.
Remember the days when you went off to college with your stereo. Then you went off with your very own car. Now it's your own condo.
Hey Susie..sharks = sushie
hurricanes= natures way of making more land available to
home buyers from up north and people from down south moving
up north to buy the homes the northerners put on the market
to move down south...
bubbles?....have some more champagne?
Is this right? Job losses in the 90s? How can that be? I never read any stories about this, did you?
If there's one stock that has been the "Microsoft" of the housing market it is NVR. When NVR crashes, its time to beat a hastey retreat. I started following NVR about 5 years ago. They were trading in the mid 30's. Earlier in the week the stock closed at 879, that's right 879. Its PE is only around 13. They make 68 bucks a share. They have outperformed every other home buyer out there. They also originate mortgages which help move their houses.
This is the bellweather home builder stock and what its telling us is, forget about the interest rate increases, happy days are here again.
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