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Strategies & Market Trends : Value Investing

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To: Carl Worth who wrote (20965)	3/25/2005 7:06:25 PM
From: Broken_Clock	Read Replies (1) of 78922

Carl, I'm not a financial genius and I've been wrong about real estate many times, despite the fact that I've been a real estate broker for 20+ years. However, from personal experience and also from extensive daily reading of many opinions I tend to agree we are in a housing bubble. Not just in many parts of the USA but in many areas worldwide. Real returns cash on cash in real estate are generally at historic lows. New buyers can't buy w/o help from Mom and Pop. The alternative of a 103% loan with an adjustable rate followed by payments equalling 50% plus of net monthly income is alarming to me. NAR just released a report showing that 36% of homes bought in the US last year were spec buys. Completely unsustainable IMO. I tell everyone I know to own their own home free and clear. Needless to say, not many listen. Nearly everyone where I live is paying more for their SUV monthly payment(then add gas, ins.) than a typical mortgage payment was just 10 years ago. And wages haven't kept pace...Except for construction and other real estate related activities. I guess we'll see what happens in year from now.

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