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Whats This about a Housing Bubble?


In his recent testimony, Alan Greenspan warned against the possiblity that we have seen home prices plateau. The bursting of the "bubble" could cause a big hit to the U.S. economy. But, why should we worry?

Well, as we all know, house prices are up across the country...over 10% in the last year, including over 25% in some markets. Additionally, house prices have risen over 70% since 1994, more than double the increase of renting during that time period. Demand for houses is high, as interest rates have stayed low. This has created an investment market for houses.

Now, the average homeowner can use the equity in his/her home to finance the purchase of one or more additional houses. One statistic showed that 13% of houses are currently unoccupied, due to investors gobbling them up, hoping the prices will continue to skyrocket.

But can these prices last? Once the supply of houses exceeds demand, we could see a rapid drop in prices, as people look to sell their extra homes. Higher interest rates or falling prices could scare away potential buyers, creating a housing market crash.

Furthermore, those with Adjustable Rate Mortgages (ARMs) who figured they would only own the house for 3-4 years might now be stuck with either a high interest mortgage, or selling the home for a substantial loss.

Either way, the potential for bankrupt investors seems unnervingly real. With new laws making it harder for one to declare bankruptcy, we could become a nation with huge individual debt...and that would certainly hurt our economy.

Scott publishes and maintains Stock Market Plus, a financial blog with topics ranging from Investing to Debt Control. Visit him at http://www.stockmarketplus.com


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Real Estate Happenings
Charleston Post Courier
WHAT: This inaugural golf tournament fundraiser is sponsored by Berkshire Hathaway HomeServices Southern Coast Real Estate, with 100 percent of the proceeds going to nonprofit The Sunshine Kids Foundation (www.sunshinekids.org) providing group ...



Naples Daily News

Real estate briefs
Naples Daily News
Free real estate seminar. Naples' top real estate professionals are holding a public talk to help homebuyers and sellers avoid making common but harmful mistakes. According to local Realtor Jim York, who will be one of the professionals at the seminar ...



Real estate transfers: Reported Oct. 21, 2018
Herald-Whig
Real estate transfers recorded in the office of Adams County clerk and recorder. Quincy area. Russell F. Rohrer, property at 2000 State St., to Elias M. Wigfall and Lachelle M. Wigfall. Melissa R. Hinkamper, property at 1212 N. 20th St., to Melissa R ...



Real estate transfers for Oct. 21, 2018
Roanoke Times
Federal National Mortgage Association to Morris Real Estate Management LLC, 1813 Eastgate Ave. N.E. Roanoke VA 24012, $64,900 10/02/2018. HSBC Bank USA to Victoria L. Epperly, 3401 Birchwood St. N.E. Roanoke VA 24012, $71,000 10/04/2018.



Washington Examiner

Treasury makes real estate a winner of tax law's 'opportunity zones'
Washington Examiner
The Trump administration released the first draft rules for an ambitious plan to provide tax breaks for investment in economically disadvantaged areas labeled “opportunity zones'” on Friday, and real estate appeared to be the big winner. “We want all ...
Opportunity Zones Frequently Asked Questions | Internal Revenue Service - IRS.govIRS.gov
View Interactive Map - ArcGIS OnlineArcGIS Online
REG-115420-18 - IRS.govIRS.gov
Urban Institute
all 163 news articles »


Forbes

Six Skills Real Estate Investors And Developers Need To Develop
Forbes
Being a successful real estate investor or developer requires the unique ability to see an opportunity where others do not. Looking at trends in other successful markets and recognizing those trends elsewhere are key factors in identifying opportunities.



Wall Street Journal

The Bullies of Real Estate
Wall Street Journal
“Bullying is rampant among real-estate agents, but you see less of it among the top-performing agents. The most common form of bullying here is a passive-aggressive running of the clock, which usually happens when buyers and sellers are negotiating ...



Omaha World-Herald

La Crosse County real estate transfers for Sunday, Oct. 21, 2018
La Crosse Tribune
The following are real estate transfers filed in La Crosse County. By law, some transfers are exempt from transfer fees; these properties are listed without prices. Bangor. Matthew and Tyffany Gasper to Kory and Olivia Freeberg, 2107 Henry Johns Blvd., ...
Residential real estate transfers, Oct. 21Omaha World-Herald

all 2 news articles »


Real estate transfers
The Steubenville Herald-Star
St. Joseph Monastery to Maria Benavides, lot 46, Becker Highlands. Charles McIlvain to Robert and Megan Knutsen, 9.509 acres, Mount Pleasant Township (survivorship). Melissa and Robert Supanik to Jared Bloom and Kathryn Shook, 0.219 acre, Warren ...



Bloomberg

The Latest Real-Estate Business Is Storing Rich People's Cars
Bloomberg
It's easy enough to build a basement cellar for your collection of Lafites and Latours or clear some wall space for your Richters and Basquiats. But try finding room for a dozen or so vintage Ferraris, Porsches and Plymouth Barracudas. In this dilemma ...


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