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SVTPerformance's Chain of Restaurants
Road Side Pub
Thoughts on Real Estate- bubble burst or not?
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<blockquote data-quote="Logan2003Cobra" data-source="post: 16706279" data-attributes="member: 17851"><p>While we aren't experiencing the same situation as the 07 bubble burst, there are several reasons why I believe the housing market is unsustainable:</p><p>1. Low interest rates make higher priced homes more "affordable"; when interest rates increase, home prices will drop.</p><p>2. In UT for example, ~52% of residents can't afford the average home price and over 75% of current renters can't afford the average home price; and they keep building new "expensive" homes.</p><p>3. Incomes aren't even close to keeping up with inflation which reduces "affordability". </p><p>4. Home prices in some areas are exceeding FHA and VA loan limits which account for ~20% of mortgages. </p><p>5. Coming up with $100K+ down and carrying a $400K+ mortgage is very challenging for your average buyer / family income.</p><p>6. Inventory will catch up to demand and likely over-saturate the market based on 1-5.</p></blockquote><p></p>
[QUOTE="Logan2003Cobra, post: 16706279, member: 17851"] While we aren't experiencing the same situation as the 07 bubble burst, there are several reasons why I believe the housing market is unsustainable: 1. Low interest rates make higher priced homes more "affordable"; when interest rates increase, home prices will drop. 2. In UT for example, ~52% of residents can't afford the average home price and over 75% of current renters can't afford the average home price; and they keep building new "expensive" homes. 3. Incomes aren't even close to keeping up with inflation which reduces "affordability". 4. Home prices in some areas are exceeding FHA and VA loan limits which account for ~20% of mortgages. 5. Coming up with $100K+ down and carrying a $400K+ mortgage is very challenging for your average buyer / family income. 6. Inventory will catch up to demand and likely over-saturate the market based on 1-5. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Thoughts on Real Estate- bubble burst or not?
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