Another housing bubble forming

Look at the States with the highest real estate inflation listed in the article. Colorado, Wyoming, Texas and New York. Besides New York all those states have seen a Fracking/Energy boom! With the Saudi's trying to destroy the fracking industry with low oil prices we could be in for one heck of a ride!

originally posted by: onequestion
Rent for a 1 bedroom is 2000 a month where I live and its not even listed in the top 10 most expensive places to live in the US. Clearly there is another bubble forming and I'm not alone in thinking this.

Source

Real estate prices increased again in January, with several states reaching new historic highs, leading experts to wonder whether another real estate bubble might be brewing. Nationwide, home prices rose by 5.7 percent in January compared to a year ago, according to data released Tuesday by CoreLogic

To me its very odd that prices are climbing so high while the labor pool is consistently growing driving down the average earning for almost all sectors across the board.

Wages stagnating and decreasing while housing cost going up. Oh jee... we don't learn easy lessons.

You are living in an area that has value. And you are renting.
I am paying $50 more in mortgage than I was in renting 1/2 a duplex with half the square footage.
Rent is going up. Real Estate is not what it was 10 years ago.

a reply to: EternalSolace



But it's certainly possible to move into a $700 a month apartment and save $1000 a month.

The term slumming it was pun.

And earlier poster was right. The bubble burst into 2008 and it still hasn't fully recovered. We are at a point where everyone who does not buy into the housing market now will regret it in ten yeras.

So is this happening in any other areas in the U.S ?...here is aus house prices went crazy several years ago and now many people have been priced out of the market....rentals are at an all time low there are just so many people looking for a place to live,i have to move and have been looking for months,there is just so little out there.Home owners are receiving 50 or 60 calls in the first weekend their house is advertised,its just crazy....

a reply to: Greathouse

But it's certainly possible to move into a $700 a month apartment and save $1000 a month.

The term slumming it was pun.

Ah, okay. I'm on the same page now. That's pretty reasonable for the most part... If they could find a place that cheap in the same location considering what some areas are charging.

I am a Real Estate agent in Florida. I will tell you the similarities to the 2007 crash are very similar. This includes loans that are given to people that can't afford it and I was shocked the other day to see no-doc loans being made.

This and the Derivatives Bubble portend a bad economic event that world would think the last crash was just a person going bankrupt. Basically, imho there will have to be a starting over with an entirely new system of economics. I also wonder on the CT side of me if this isn't a plan to force the NWO in when everyone is so desperate that they will accept anything to put food on the table.

a reply to: alishainwonderland

I can tell you that I just sold my house,and for my asking price(which the agent didn't think I would get). I just signed the papers today. I am moving out of the US to try and be as comfortable as I can for my remaining years. The arthritis just gets to me really bad during Midwest winters and I'm tired of swallowing aspirin till my stomach is burning up. I can't wait to leave.

a reply to: hopenotfeariswhatweneed

In Queensland in the mining towns now the boom is over people with mortgages on 500,000 dollar houses now are worth
200,000 and rents have plumetted, 50,000 have left the Mackay area,in Brisbane prices have been flat for several years.

originally posted by: alishainwonderland
a reply to: onequestion

I feel ya. I live in Denver and it is outrageous here. In 2008, I moved into a two bedroom apartment for $750 a month. Those same two bedroom apartments, now 7 years older are $1700 a month and wages have not gone up much at all since then!

I own a business and have never struggled as much as I have in the past year and a half or so. And I have NO debt. No mortgage, no credit cards, car is paid off, etc. No debt and I still am just doggie paddling.

I've been waiting for the bubble to pop though. I kept saying that even if I have to wait 5 years, I refuse to buy a house in this economy. So when it does, I will be ready to swoop in!
Until then, I will be increasingly angry with Denver and our crazy economy.

Sounds like an ad on dating website, are you looking?

a reply to: khnum

But over all we are still in a bubble in Australia, not that we affect the world economy that much.

originally posted by: spirit_horse
I also wonder on the CT side of me if this isn't a plan to force the NWO in when everyone is so desperate that they will accept anything to put food on the table.

Well if the conspiracy is real, they have to do something to make it happen.

a reply to: Cinrad

...and our Reserve bank doesn't own 12 per cent of all housing as a result of a bubble of its own creation either.

originally posted by: BELIEVERpriest

originally posted by: onequestion
a reply to: alishainwonderland

Its crazy isnt it. It seems like their trying to push out the middle class...

BINGO!!!

You can't destroy a super-power without taking out the middle class first. The government wants us totally dependent on them: for housing, food, medical, thought, and potty breaks. With bubble after bubble, our economy is boiling away, and with it, the middle class evaporates.

Correction; they want us all to be RENTERS dependent upon the wealthy.

Eventually, all the real estate will be owned by property management corporations and wealthy folks, and everyone will be forced to rent from them.

national association of realtors was one of Obama's top donors. remember the acorn scandal? Looks like they dropped a wad to hillary. Remember Obama signed in a real estate tax to fund obama care? link

a reply to: khnum

i take it then rentals are abundant around Mackay ?
Im in byron bay and prices here are rising and have been steadily,and thats what 2 hours from Brisbane,i would have thought Brisbane would have climbed as well....

Anyhow i am heading up to mission beach in the next couple of weeks i will get a first hand look at the market up tropical north

a reply to: hopenotfeariswhatweneed

Some parts of the inner city in Brisbane have been rising about 6 per cent but the rest is pretty flat,yes you can get a rental in Mackay for a respectable price if you can get a job however is another matter.Check out North of Cairns Mossman,Daintree,Cape Tribulation there are still some respectable prices going for hobby farms etc going.

originally posted by: marg6043
a reply to: onequestion

The bubble burse in 2008, but it never went away, is not that it's a new one forming but that the last one is been inflated since 2008.

They have manipulated the $hiters of the market from what I have personally seen.

Right before the market crashed there was a house not to far away from me that got foreclosed and abandoned.

At the time I was looking for a property and I figured that would have been a good one to purchase at the time. I tried to contact realtors , banks , and MLS with no luck . The house couldn't be found or listed. The house stayed abandon with foreclosure papers, but with the yard taken care of . Just about 2 month ago the property was finally put up for sale.

That is from the beginning of the market crash to now the property was hidden.

here is the kicker, that was not the only property that I saw that happen with . There were 2 other properties that were abandon around the same time. 1 just sold about 6 months ago and the other one stayed hidden for about 3 years.

I think they had so many foreclosed properties that they had to hide them (maybe stimulus money?) in order to not flood the market and they are just getting caught-up to the inventory.

the crazier thing is ,everywhere I look they are building new neighborhoods and commercial space.

I think this area was one of he first to go under because of the steep increases of prices almost overnight. I suspect this area will do it again.

IMO this area is holding on by a wire, lots of foreigners. If the Euro takes a big dive it surely will take the housing market with it for this region anyways.

My gut tells me 3 to 4 years top, but it has been telling me that for a while
.

a reply to: onequestion



Then your approach in homebuying wrong. First step you should take is find a builder (small to large local)whose work you like and approach that builder. If you go to the builder first, remember he wants to sell you a house. He will do his damnedest to find you financing. Be careful and always turn down The first and second attempt's at financing but still expressed interest in a home. ( they will keep trying) The third deal will show a significant change from the first offer, if you refuse this they probably won't come back at you with anotherone.

If you go to the bank for a mortgage they know they hold all the cards over you from the beginning and your dealt the hand they want you to have.

All the subs and small business contractors are still barely surviving or are just now starting to pick back up in the last few months.

The main reason for them barely surviving is nobody's buying houses.

The government won't complain, they collect more taxes as the values go up.

When the values shot down last time, the property tax valuations did not decrease, the cities and townships still need the money. Many people are paying taxes on a value way higher than the actual value of their home.

I bought a nice house on eBay in Dayton, Ohio for $3,500. I painted it, changed the carpet and it was perfect and I owned it outright. It wasn't in a great neighborhood, but now I rent it for $800 a month. It is 3-bedroom, 2 bath with a basement. I buy houses all the time under $40k that just need lipstick improvements then flip them in the $100k range. It isn't that hard to get a house or get them cheap.

Try auctions and get them 'as is' from banks. I am living in a house now I got for $75k that all I did was paint it and change a few fixtures and it is in a great neighborhood and the houses around me are around $200k. I have over $100k equity instantly and pay less than $400 a month for my mortgage.