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Bubble, Bubble, Toil and Trouble?
We are selling our house. We have lived here for 15 years, the longest I have ever lived anywhere; of the places since I left my parents' home I think my previous best was three years. There is a certain comfort to residential stability. I expect I will be filling out change of address forms from when we move through the end of my useful life. Coincidentally, there were two articles that I have come across since putting up our "For Sale" sign a week ago that address the housing "bubble." Slate.com's Daniel Gross writes about "Bubble Over Troubled Waters: Why the real estate bubble could be good news for the economy." He refers to "what many are already calling the successor bubble to the dot-com fiasco: the U.S. housing market." On the positive side, Northern Trust economist Asha Bangalore notes that "the performance of the housing market has played a visible role in payroll growth." Gross adds that "Spending on housing flows into a remarkably wide range of sectors-and the overwhelming majority of the spending is local." So are these people out of their jobs when the bubble bursts? Gross suggests that it is "possible that housing was the bridge that helped us get over the post-bust job chasm." In a Greg Thomas article entitled "Up, Up, and Away" in today's New Orleans Times-Picayune (TP), the subtitle reads "N.O.-area home prices keep soaring, leaving some to wonder if a market tumble is on the horizon." Greg reports that "Sales prices of single-family homes in the metro area continued their skyward trajectory during the first six months of the year, climbing 11 percent compared with the same period in 2004. Some experts say it could be the highest jump in local home prices in at least 50 years." So I am buying and selling in the bubble. The TP shows that where we are selling, prices are up 34% over last year, while where we are buying they are only up 10%. Could I have timed this transaction just right? By the way, while this is not meant to be an ad, if you are looking for the nicest house in New Orleans East then check us out at http://house.jbv.com. I will keep you posted on our adventures as amateur real estate agents. Let me know what is happening in your area. John B. Vinturella, Ph.D. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites jbv.com and muddledconcept.com, and maintains business and political blogs.
MORE RESOURCES: Investors are piling into real estate as values skyrocket by up to 38%. 13 metros with the highest gains, and 25 that are plunging. Business Insider Gorgeous 131-acre estate near Sacramento for sale for $5M. Step inside decked-out home Sacramento Bee Down Payments Are Dropping From Historic Highs—See How Much Homebuyers Can Save Today Realtor.com News Will builders start lowering agent commissions? Real Estate News Real Estate Transactions, Oct. 21 edition Hopkinton Independent See September real estate trends in The Woodlands area Community Impact Take a look at the nine Palm Beach properties that sold for $39M or more in the off-season Palm Beach Daily News Buttoned-up real estate exec goes all out for Halloween The Atlanta Journal Constitution Lebanon County real estate transfers, sponsored by Reliable Moving and Storage (Oct. 1 to Oct. 15) LebTown AI Becomes Real Estate’s New Landlord PYMNTS.com Global Real Estate Streaming Service WPC TV Begins Platform Construction The World Property Journal Predictions of a stronger market during seventh annual St. Louis Commercial Real Estate Summit REjournals.com News | Social infrastructure real estate manager agrees £80 million financing with HSBC CoStar Group Metro Milwaukee retail real estate market softens in Q3 BizTimes Milwaukee Palm Beach's summer saw multiple high-end home sales. Is a busy real estate season ahead? Palm Beach Daily News NAR hit with another lawsuit over ‘forced membership’ Real Estate News Denver Borough residents may see real estate tax, water rate increase in 2025 LNP | LancasterOnline NAR, 4 brokerages ask court to toss out Homie suit Real Estate News Central Mass. real estate transfers, Sunday, Oct. 20 Worcester Telegram Are you buying a home in WA without a real estate agent? The Seattle Times Finding Extra Yield Potential in Real Estate Mezzanine Debt Institutional Investor Judge rules WA real estate investment firm ran Ponzi scheme The Seattle Times A danger foretold: NAR’s waning dominance Real Estate News NAIOP: Commercial Real Estate Sentiment Rebounds Mile High CRE Southeastern Wisconsin industrial real estate absorption slows in Q3, but market remains healthy BizTimes Milwaukee See how much real estate prices have changed in Sea Ranch in the past 5 weeks The Santa Rosa Press Democrat Berks County real estate transactions for Oct. 20 Reading Eagle Sale closed in Newton: $1.6 million for a triplex MassLive.com Bloomington RDC OKs $25K for real estate appraisals, preps sale to hotelier for convention center project B Square Beacon Ottawa County real estate transactions recorded Oct. 14-18 Port Clinton News Herald How Developers Are Catering to Would-Be Homeowners With Rental Amenities The New York Times North Central Board of Realtors serves as voice of real estate in Baxter, Marion counties - ktlo.com Crypto has designs on real estate Financial Times Alexandria Real Estate Q3 Revenue Rises The Motley Fool Former Brookfield Property CEO joins board of sports and entertainment real estate developer CoStar Group Guthrie installed as Midland Board of Realtors president Midland Daily News Ares Management Real Estate Secures $475M in CMBS Financing for Industrial Portfolio Commercial Observer What Is Unrealized Capital Gains Tax? Unpacking ‘Economy Killer’ Proposal On Ultra Wealthy. - Forbes Alexandria Real Estate Equities: Q3 Earnings Snapshot Danbury News Times Vietnamese real estate tycoon sentenced to life for billions in fraud in government graft crackdown The Associated Press U.S. Mortgage Rates Continue to Rise, Again The World Property Journal KKR Real Estate: Q3 Earnings Snapshot San Antonio Express-News Helen Mirren Lists 'Legendary' $18.5 Million Compound Yet Again (With a Huge Discount)—See Inside the Opulent L.A. Estate Realtor.com News Hocking County real estate transfers Logan Daily News Residential real estate roundup: D.R. Horton continues expansion of Triad presence Triad Business Journal Radio Real Estate 10/19/24 My Bellingham Now European P2P real estate yields average 10pc Alternative Credit Investor KKR Real Estate: Q3 Earnings Snapshot San Francisco Chronicle Ken Griffin's move to Florida means losing millions on homes he never even lived in Business Insider C-I Oct. 22, 2024 Real Estate Transfers pmg-sc.com What different election scenarios mean for real estate National Mortgage News |
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