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re: Current housing surge vs. last decade's housing surge
Posted on 7/22/14 at 1:53 pm to Hawkeye95
Posted on 7/22/14 at 1:53 pm to Hawkeye95
if employment holds, there is no bubble.
if people are out of work, there will be a new flood of foreclosures. and a burst is inevitable.
a prediction of bubble is essentially a prediction of the labor market in an area.
i recommend that people quit looking at price increases and looking at job bubbles. is there an industry that can potentially suffer in the short term future? is a region/city heavily affected by this workforce? if yes, there is your bubble.
if you are looking for whether to make an investment into an area, follow the jobs forecasting and make sure that the employment sector is not in for a downfall.
i know that this is more of a demand side view of real estate. but developers do their homework on absorption rates and zoning trends. demand drives this bus. over-suppy is more of an indicator of how big a bubble bust drives prices down.
if people are out of work, there will be a new flood of foreclosures. and a burst is inevitable.
a prediction of bubble is essentially a prediction of the labor market in an area.
i recommend that people quit looking at price increases and looking at job bubbles. is there an industry that can potentially suffer in the short term future? is a region/city heavily affected by this workforce? if yes, there is your bubble.
if you are looking for whether to make an investment into an area, follow the jobs forecasting and make sure that the employment sector is not in for a downfall.
i know that this is more of a demand side view of real estate. but developers do their homework on absorption rates and zoning trends. demand drives this bus. over-suppy is more of an indicator of how big a bubble bust drives prices down.
Posted on 7/23/14 at 6:02 am to cjared036
quote:
If that happens then The Woodlands will continue to explode
I'm not sure the mushroom cloud could get much bigger. It's insane in that area right now. Shame on anyone that wasn't in on the front end of buying for the Exxon move, although all the people coming from Fairfax still think they are getting a housing bargain.
Makes me wish I still had my little abode there. I might have finally been on the right end of a rapid change in housing prices.
And to some of the other comments, it is unreal how the loan requirements have changed in a few years. I feel like I'm experiencing death by a thousand cuts from my lender. Every day they want another piece of paper. It is PAINFUL.
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