Are we in a Housing Bubble? Where is the market heading?
I have been supplied a report on whether or not we are in a bubble. Personally experiencing THE major market bust of 2005-2008, I want you to know that although I find this article informative (read this article here)
...I have a different gut instinct, which tells me prices are inflated.
There are some things that have contributed to the inflated prices and demand. Consider these tips
Here's my two cents...
-One is that investors have gobbled up many of the vacant homes and are renting them out with very good rates of return. Yet the rental market can not continue to bear up with astronomical rental rates. So I feel as the rental market market softens and investors begin to sell off some of their inventory that prices will begin to soften as well.
-Two, because many investors own many of the homes, this means there is a pent up demand of "pre-qualified" buyers that are out there, that are ready and willing with loan approval, to purchase a home, yet they are losing out to cash buyers. Something has to give.
So that's my 2 Cents for what it's Worth. When it comes to navigating the many steps of determining market value, I wrote a great article about Price
. You can find it here.
Bottom line...We may not be in a housing bubble, yet Sellers and Buyers sure do need to meet in the middle to determining market value. We can help! ContactUs