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Housing market





hunterm
I'm not sure where most of you board members live, but I'm from the uk and am anticipating a correction/crash in the housing market. I think this may have already started in the US. Anyone else agree/disagree.
hunterm
Guess no one's interested in the property market then??
S3nd K3ys
I'm in San Diego Ca. I bought here in '94 for < $135,000 USD for a 3 br with pool on less than 1/8 acre in a crowded neghborhood.

I sold that house last year for > $450,000 USD.

The market will level off I'm sure. I don't think it will go down much. Maybe a few percent. Some areas, like San Diego, will have areas of more drop, but in general, as long as population increases, land prices will go up.
jmib55
hunterm wrote:
I'm not sure where most of you board members live, but I'm from the uk and am anticipating a correction/crash in the housing market. I think this may have already started in the US. Anyone else agree/disagree.


In Belgium, correction already started but not so big. Maybe the market was not too high.
mah_lau
Here in Canada, a nice 1400sq ft Condo already costs $500,000CND. Not sure if that's high or low, but I think it's... way high.
eagle1
hunterm wrote:
I'm not sure where most of you board members live, but I'm from the uk and am anticipating a correction/crash in the housing market. I think this may have already started in the US. Anyone else agree/disagree.


I have lived in five different places over the last few years. The most interesting have been Phoenix, AZ and Boston, MA. I bought a house in Phoenix and the value doubled in a year. The market in Boston was a bit more stable. However, I do think we are well on our way towards a crash. I have been told that the number of foreclosures are up by 50% nationwide. The banks who will give money to anyone for a home are the primary reason the market is crashing. Some people are able to buy a home that takes up 75% of their monthly salary.
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