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Quokka

Us Bubble ?

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Depends what paper you read:

http://www.builderonline.com/industry-news...rticleID=251102

Despite these conditions, the paper further concludes that
bubble conditions are definitely emerging
in several local markets. "Pressures are particularly evident in the West where housing prices in local markets such as Riverside-San Bernardino (outside of Los Angeles) and Las Vegas are rising rapidly with an attendant marked deterioration in affordability," said Ferley. "Rising prices in those areas seem more the result of speculative pressures and thus indicative of local housing market bubbles. There is the definite risk in these markets that prices will eventually need to correct sharply lower."

America has regional bubbles. The coasts in particular are in for some pain, especially San Diego (the worlds biggest RE bubble):

http://www.signonsandiego.com/news/busines...homeprices.html

S.D. existing-home median price drops, sales plummet in Dec.
Sales of existing homes in California last month were down 8.2 percent from November and down
17.6 percent
from the same period last year.

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From the graph at the bottom of the page, it looks like real estate in the US is now about on par (as far as affordability is concerned) with where it was in 1979. Just about at the top of a bubble, then. If you look at the bellweather states, affordability has halved in 5 years. Not looking so good.

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From the graph at the bottom of the page, it looks like real estate in the US is now about on par (as far as affordability is concerned) with where it was in 1979. Just about at the top of a bubble, then. If you look at the bellweather states, affordability has halved in 5 years. Not looking so good.

The table shows slightly below 1985 level.

How does this compare with UK over same period?

UK property was affordable in early 80's from memory.

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The table shows slightly below 1985 level.

How does this compare with UK over same period?

UK property was affordable in early 80's from memory.

US affordability is on the way down, like in 79, not in 85. Sorry, C-, must try harder.

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The same new york times that uncovered Valory plame, bigged up WMD's in Iraq and also preaches the gospel of intelligent design ?

damn it must be true

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Their graph is total BS. There is not enough info. For example, is the 85 figure are they using a 30 year fixed mortgage against a I/O loan in 2005? (the 30 year fixed would have been the norm in 85, and I believe an I/O would be the norm in my area today).

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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