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Some argue there is no "bubble".
Submitted By: Keon ( 243 days, 9 hours, 35 minutes ago )
This question is impossible to answer in a context as broad as real estate for all of the USA and/or Canada. But, in general, many professionals say that there is no bubble to begin with, or some that say that there is a bubble don't think it is going to "pop" so soon. I cannot speak for the entire USA, but in Southern California (where I live) there are several factors that will lead to the continual growth of the need for housing. One of the major contributors to this is the constant flow of incoming immigrants. Different areas have different situations. You should consult your local newspaper and take a look at the real estate section. Look at mortgage rates and house prices: high rates and low prices generally means there is a very flat market. Lower rates and high prices usually means there is a booming market. Be on the lookout to see if it is a buyers market or a sellers market. Howerver, right now, (in SOCAL) it is said that prices are not going to soar or plummet. It is not a bad time to buy or sell. The market is coming close to a standstill. Nonetheless, you should always consult a professional before making any sort of real estate decision such as purchasing or selling property. I hope this helps.
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When int rates go up...
Submitted By: Raptor235 ( 243 days, 9 hours, 46 minutes ago )
its the same here in Toronto... you can find anything decent under 200k... pretty crazy
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Chitowns the same
Submitted By: butanecorruption ( 243 days, 9 hours and 41 minutes ago )
It seems to be the same in many places around the US. The housing market has been increasing, well since the 80's. From what I remmeber in my econ class, it should be about another 3
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The buuble is directly related to interset rates
Submitted By: JohnP ( 243 days, 9 hours, 22 minutes ago )
The housing market is beginning to slow because of the increase in interest rates. With higher rates construction firms have to pay more to borrow money thus lowering their profit margin. These rates also directly affect your payments and most people have a limit. If they cannot afford to pay that extra $200 a month they will stay put. It seems that the Fed will continue raising the "cost of borrowing money" slowly, but that will be a main contributor to the growth or flattening of this market. There are numerous factors but the cost of borrowing has a strong pull.
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poo
Submitted By: anon ( 243 days, 9 hours, 10 minutes ago )
pooooooooooooooooooooo
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Once the rich folks get out.
Submitted By: wil9000 ( 242 days, 23 hours, 57 minutes ago )
The bubble will not pop until the rich folks who started it all have run off with their loot, probably to their off shore tax havens. Then, the rest of us will be left holding the bag, as usual.
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In my area
Submitted By: Stormer ( 242 days, 13 hours, 50 minutes ago )
Houses used to sell within weeks of being placed on the market. Now, I see houses that have been on the market for 6 months or more not selling at all. The market is slowing for sure in my area, there are many expired listings in the MLS, and I am starting to see many people using auctions to get out of the home they moved from.
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The housing market will not pop
Submitted By: Noir ( 241 days, 18 hours, 48 minutes ago )
Sure, there are pockets of overvalued real estate, but for the most part, housing values are not going to take a huge dive anytime soon. There might be some slight correction in the market, especially in these overvalued locations, but for the most part, you can expect the market to flatten out for a while. Incidentally, mortgage loan rates are not tied into the federal interest rates that vary every quarter. Mortgage home rates are more closely tied to the economy overall. That's why rates rarely change much when the rate changes take effect.