Current Events — HabitableZone

Current Events » in reply to US (housing market) bubble set to burst.(?)

In the bubble

Your link didn't work for me.

Homes near mine are selling for about 60% more than they did just 2 years ago. Its kind of scary. I'd sell, but then I'd have to turn around and buy at inflated rates. With the local concrete shortage people are on waiting list up to a year to build a house, so houses are being snatched up quickly the instant they go on the market. One disturbing trend is the number of homes being bought up by Californians as rentals. That's a pretty good sign the neighborhood is earmarked for decay. If I had had money/credit to buy 20 acres just 3 years ago I could have sold it this year and been filthy rich. Oh well, who would have known.

I just got a notice from the county assessor. Property taxes are going up. I should also take a new look at my Homeowners insurance.

-Steve G.

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