Tuesday, May 23, 2006
Real Estate Bubble Bursting
Is the so called real estate bubble finally bursting. The press would have you think so with all of the articles lately on the subject. They have to have something to sell the newspapers and magazines with and real estate is a hot topic. I too read these articles with great interest about the glut of condos and single family homes on the market in Florida, Virginia, Arizona, Las Vegas and other hot markets of yesteryear. There are still a few very hot markets out there that don't seem to get mentioned in these articles and for the savy investor that's just fine for now. By the time the hoard of investors find these gem markets it will just about be time to sell and find the next emerging market that the press and hoard of investors will descend on about a year too late.
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2 comments:
RWE,
I think hot markets may continue to exist.
To your list of three attributes:
1. They have jobs
2. They have higher than average wages
3. They have undervalued housing
I would add perhaps one more
4. safety of isolated communities.
Best,
Allan
I believe that the "bubble" has been overstated, or just down right misreported by many publications. I think it's entirely subjective to average growth rate over the last 4 years. Markets other than the big 4 (New York, Chicago, Miami, LA) should be fine. Tampa is great.
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