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| freeye |
 Posted: Thu Jun 23, 2005 8:55 am Post subject: RESIDENTIAL - real estate bubble discussion |
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Investing Manager
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some are saying a real estate bubble has formed in some local markets around the country and still others are starting to say the bubble is deflating in markets around the world such as ireland, england and australia.
bob brinker a national money talk show host said this on his weekend show of june 16-17, 2005.
his show is widely available around the country and it is also available archived for a small fee per month.
a bob brinker money talk forum was just started here at einvesting.com and i would like to invite you over there if you have additional questions on bob's views on real estate.
freeye
Last edited by freeye on Thu Jun 23, 2005 9:12 am; edited 1 time in total |
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| freeye |
| Posted: Thu Jun 23, 2005 8:58 am Post subject: |
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Investing Manager
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one sign of a real estate bubble is people day trading or quickly flipping condos. the below site lets buyer of preconstruction condos resell or reassign these condos to new buyers.
freeye
http://www.condoflip.com/ |
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| freeye |
| Posted: Thu Jun 23, 2005 9:10 am Post subject: |
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Investing Manager
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the wall street journal reported on june 22, 2005 in an article.
paraphrased thoughts of hans nordby:
"air is seeping out of the chicago market"
"were hearing the sound of the bubble bursting in the chicago central
business district projects are starting not to sell and they are starting to
go to the bank."
hans nordby of property and portfolio research
freeye
(subscibers can pull the article for the exact details) |
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| freeye |
| Posted: Thu Jun 23, 2005 10:54 am Post subject: |
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Investing Manager
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here's the article referenced in the post just prior to this one.
Q. are you seeing signs of a market top in your market?
Q. if you do. are you considering your strategic options?
Ray A. Smith in yesterday’s WSJ writes,
“The air appears to be seeping out of Chicago's bubbly condo market. In recent months, several luxury condominium projects have suffered slower-than-expected sales.
A handful of high-profile projects narrowly averted foreclosure as banks came to the rescue with new loans…Unlike some other markets, Chicago isn't experiencing a pricing bubble but a supply bubble.
Chicago ranks third in the nation in terms of condos that are expected to be completed this year, including new buildings and conversions of rental apartments.
According to Property & Portfolio Research Inc. and Reed Construction Data, 18,586 condo units will be added to Miami's condo inventory this year. San Diego is expecting 10,875. Chicago could see 8,533 more units…
The signs are literally out there.
"If you drive around Chicago, you see big signs on the tops of buildings -- 'Condos for Sale' -- which I've never seen before," says Paul Barile, an investment specialist with real-estate services firm Grubb & Ellis Co
…Mr. Nordby warns that Chicago may be a harbinger of things to come in other markets.
In Miami, "we haven't seen too many bad deals," Mr. Nordby says, but the amount of speculators, or investors buying units to flip or sell quickly, concerns him.
"The story is Chicago this week, but Miami is not far behind," he says.”
if you this has been helpful to you please say so and contribute your thoughts to this topic. freeye
http://online.wsj.com/article/0,,SB111939287367765760,00.html |
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| freeye |
| Posted: Thu Jun 23, 2005 1:19 pm Post subject: |
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Investing Manager
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SAN FRANCISCO (MarketWatch)
Warren Buffett, the billionaire chairman of Berkshire Hathaway told CNBC on Thursday that he thinks there's probably a real-estate bubble in the U.S.
Asked if he thought there are imbalances in the real-estate market and whether that could be dangerous, Buffett said "I think the answer is probably."
Lending practices, low interest rates and herd mentality are "coming together in the real-estate market in a way that would lead me to believe that -- certainly at the high end -- people who buy houses today may have some periods when they regret it," Buffett added.
freeye
here's the link to the original story.
http://www.marketwatch.com/news/story.asp?guid=%7BB260369A%2D2428%2D4B02%2D81F0%2D6800AAEC1FED%7D&dist=rss&siteid=mktw |
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