Looks Like I Need To Revive The Housing Bubble Series

Looks like the housing bubble is back — waaaayyyy back. In my area prices are waaaayyyy above the peak of the bubble.

I do not live in a great neighborhood. But it looks like a 3br, 2ba house can go on the market now for $750 – 800K, and sell right away, sometimes the same day, for as much as $900K. Word is that around here that it is Chinese nationals and hedge funds buying about 1/3 of them for cash. The rest pretty much sell for cash as well.

Here is a 2br 1ba offered at $775K. Seriously, go look at the street view.

Over at Calculated Risk, Jim the Realtor: Here is what it looks like at an open house:

1 thought on “Looks Like I Need To Revive The Housing Bubble Series

  1. American banks have once again begun producing mortgage-based bonds in substantial numbers. Meanwhile, institutional investors have been buying up low-cost houses in order to rent them while speculating on the value. As a result, the housing market may be going into another bubble. Are we headed for another financial crisis? Moreover, is history destined to repeat itself, given human nature? If interested, see the following article: http://thewordenreport.blogspot.com/2013/04/return-of-mortgage-based-bonds-another.html at the Worden Report.

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