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Housing Bubble In Full Bloom, Zany Price increases, And Now A Sudden Slowdown

By Bubbabeefcake   2013 Sep 12, 12:15am   601 views   3 comments   watch (1)   quote

So in 2012, the incomes of the top 1% jumped nearly 20%, while the incomes of the other 99% inched up 1%, less even than inflation – and their real incomes actually declined. Since the financial crisis, 95% of the income gains went to the top 1%, the report found – compared to 45% during the expansion of the 1990s and 65% during the expansion after the 2001 recession. This is the Fed’s idea of how economic growth is to be achieved, accomplished by its religion, printing money to create the “wealth effect” and asset bubbles. But it didn’t work...


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1   HEY YOU   638/638 = 100% civil   2013 Sep 12, 3:43am  ↑ like (1)   ↓ dislike   quote    

“The price increases are crazy,” real-estate agent Amy Downs in the Dallas suburb of Garland echoed to the Wall Street Journal. And it’s not good for business; a lot of her clients stopped searching for a new home."

I was going to start a new thread but this fits in with yours.

Glad to see incomes exploding so everyone can buy overpriced houses.LOL

2   David9   1/1 = 100% civil   2013 Sep 12, 4:03am  ↑ like   ↓ dislike   quote    

Dallas? Price increases crazy there? This raises a serious red flag with me on the validity and accuracy of these news articles.

I own a property right in the city of Dallas, so obviously, I would occasionally check in on the perceived value and I assure you no one is adding 50k, 75k, 100k, or 150k onto the listing prices in my zip code as is happening here in California.

Garland, TX? A quick search on Redfin delivers 439 properties in that suburb alone, with a few exceptions the highest price house is $349k!

Everything is relative. Real Estate is local.

3   Bubbabeefcake     2013 Sep 12, 3:24pm  ↑ like   ↓ dislike   quote    

David9 says

Everything is relative.

Their strategy was to raise home prices “to the point of significantly slowing down sales pace,” he explained. And that point has been reached. Homebuyers are maxed out. That’s what ultimately pricked the last housing bubble. And that’s what will eventually prick this bubble too.

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