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Realistbear

Tragic Tale Of Ea Plight In The Us As Market Crashes

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http://www.boston.com/realestate/news/arti..._agents/?page=1

The Boston Globe

Cooling real estate market pulls welcome mat for new agents

A slump in house sales coupled with fierce competition among brokers is forcing many new agents to rethink their career plans.
''Today, there's one buyer for every five or 10 houses, so the job has become a little more stressful," said Pino, office manager of Carlson GMAC Real Estate in Gloucester.
A glut of unsold properties in Boston's suburbs is adding to the intense pressures facing new agents. The number of single-family houses for sale in communities around Boston
surged 58 percent
, to 4,286 yesterday, compared with a year earlier, according to the MLS Property Information Network of Shrewsbury. The figures include the suburbs within the Interstate 495 corridor.
Many buyers are sitting on the sidelines, waiting to see
whether prices will fall as the busy spring selling season draws closer, she said. As a result, homes are lingering on the market longer. For many agents, that means the time between paychecks is also growing.

The sort of article we should be reading in the UK very soon. The UK and US housing markets have always crashed and risen together. Let the above be a chilling reminder of what is to come.

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The UK and US housing markets have always crashed and risen together. Let the above be a chilling reminder of what is to come.

I am not familiar with the US market. Did they have a similar property crash in the early 1990s?

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I am not familiar with the US market. Did they have a similar property crash in the early 1990s?

The Great Crash in the US was 1989-96. I was in California at the time and got out in time. Prices fell around 30% from peak to trough and stayed low for 7 years. It started to go bad again last year at about the same time UK prices started to wobble.

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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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