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Found this: http://thehousingbubbleblog.com/

Some quotes:

From the Tampa Tribune. “Melanie Scala bought her first investment property, an apartment that had been converted into a condominium, in early 2005. Then she bought three more. Scala planned to rent the properties for a couple of years, tucking away a reasonable profit, then sell.”

“Finding renters, though, has been more difficult than she anticipated. To compete with other condo owners looking for tenants, she had to lower her rent so much that she is losing about $500 each month. ‘You don’t think that everyone is trying to do the same thing you are,’ she said. ‘I’m hoping I’ll still make a lot of money on the properties when I sell.’”


“‘Buyers think, ‘Why should I buy today? It will be less expensive in a month or three weeks.’ Every listing agent I talk to is getting ridiculous lowball offers,’ said Diane Watson, an agent in north Scottsdale.”

“Through the first four months of 2006, the number of existing houses sold in the Valley is down 46 percent from last year and 12 percent from the same time in ‘04. Last month, there were 38,206 homes for sale, a record high. Agents say they are seeing more prices being cut, and there is the persistent question of whether the crucial summer selling season will be strong enough to rescue the year.”


Another noted the absence of a spring rally. “Something that I find astonishing is that there was no spring sales rally in real estate this year. Usually the buyers come out in spring and the market takes off. This year was the opposite. The sellers came out and that trend doesn’t look like it is done yet.”

“The other funny thing is the CNN headline of ‘If you’re a speculator … get out now.’ So how many months ago was it that CNN was running headlines about RE being the next sure thing? Six months? The tide has really turned and quickly and we are no where near low tide yet. Where are all the economists that were saying first of all that there was no bubble and then that the landing would be soft. We haven’t hit the ground yet, but this doesn’t look like it will be soft!”

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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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