General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI think the Housing Bubble will explode
within the next 10 months... Live in L.A. 10 miles from downtown area..Studio City... For the last 2 yrs I've seen 100s of old Apt Buildings torn down..Replaced by High end Apts and Condos..I'm now beginning to see For Lease apt signs all over my area.. Developers are putting these High End Apt buildings all over the place..$3500 for a 1 bedroom.. Problem is the apts being torn down contain mostly young people who share. Most of them are out of college and have entry positions in myriad of industries...mostly Entertainment..
So many of them are high-tailing back home and all these high end Apts are having a real difficult time..
You Know What.. I' owned a high end retail business and back in 2006 I noticed the same thing.. Apts for lease all over the place.. then it became House for sale on every block....
This stock market bullshit is just bullshit.. IM0 our economy in the long run relies on the Middle Class and their wages... Their Wages?.....? have been remained basically flat for the past 25 yrs.
Yep folks... This Stock Market explosion? I'm in it, but playing it real safe.. I think the Bitcoin bullshit is exciting to many.... ButMan, is that crazy or what?
guillaumeb
(42,641 posts)bubbles are the only way to stimulate the economy. Connected investors will do well, most people will lose wealth.
The only proven way to have a healthy economy is where average workers enjoy a rising standard of living based on real wage gains.
busterbrown
(8,515 posts)What I don't get is why people can't understand your simple 3 sentences!
guillaumeb
(42,641 posts)But their only goal is enriching themselves further and at our expense. True sociopaths.
RKP5637
(67,111 posts)ProudLib72
(17,984 posts)Here in the Denver suburbs, our housing prices have continued to climb for years. We've made a little money buying low and selling high (not as investments, just lucky with our own homes). But at this point, I'm afraid to invest in a home. A few years ago our realtor promised that this was not a bubble, that prices would plateau but not drop. I'm not so sure of that now.
My wife's friend is tired of CO housing prices, so she and her husband are moving home to Detroit! It seemed a bit extreme to me, but I guess if they are originally from the area....
bhikkhu
(10,718 posts)in my area we were late to the 2007 boom, but the recession hit housing pretty hard. Prices are now about where they were 10 years ago. Which isn't a worry, especially since we have the same housing shortage many places have. Too many builders folded in the recession, and there is still a lot of catching up to do before I would worry about a general decline.
ProudLib72
(17,984 posts)I really just meant in those places around the country where the bubble has continued to grow. I also know that it depends on several conditions (a huge influx of companies has contributed here in Denver metro); however, it seemed like the OP's reason for a burst would be the slowing of our national economy. I keep waiting for the feds to step in and raise mortgage rates. They've been discussing this for the past few years. Maybe they will leave it alone now. There is just so much uncertainty.
Wellstone ruled
(34,661 posts)Talked to a couple of Folks who evacuated from the Cali Fires. There done,taking their Insurance Settlements and moving on. Had a Realtor tell us today,hundreds of calls from Cali people looking to relocate. We are seeing a comparison to 2007 and 2008 as to cross border actions between California and Nevada. Appears the balloon is still inflating but for how long.
flamingdem
(39,313 posts)Plus there are jobs and people have to live somewhere.
But I know what you mean, in Santa Monica there are more for rent signs appearing like 2007
busterbrown
(8,515 posts)The House My wife and I rented for 30 yrs...in one of the best parts of L.A. They never increased our rent for 20 yrs.. 1200 feet for 15 years 2 bedrooms...in Studio city. $1100 for 15 yrs no rent increases.. they gave it to their son..He asked for the 6% every year 10 yrs.. Still a great deal.. He sold the House and 5 apts attached.. All in pretty poor conditions, but very liveable plus it was under rent control.. Last year the son sold it to a foreign buyer(Obnoxious guy) We know its time to leave.. There are some good deals in Palm Springs to buy... Yep Hot but the city is really cool..and 6 months a year the weather is great.. We have no other choice, Paying Rent is in a sende tossing money out the window.
Calculating
(2,955 posts)Basically something where you just put in money, wait a bit, and get a big return. Such schemes work just fine for those who get in and leave in time, but you'd better not get stuck holding the bag. It's a zero sum game where any money you make is coming from the pockets of somebody else. I have no doubt that it's legit and has uses, but gains such as the ones we've seen recently can't be sustainable. Literally 50+ billion in market cap over a week. Such action is unheard of with stocks.
I've cashed out 3/4 of my bitcoin holders because it was just getting too spooky for me lately. Got my initial investment back, 50% profit, and letting 25% stay invested to see what happens.
dembotoz
(16,808 posts)i do see things that make me nervous but is it a trend or is it my compatriots of similar lifestyle and
resources are just getting shit on once again
busterbrown
(8,515 posts)And thats why they stay home and watch Netflix all day..When they aren't working making 13 an hr.
dembotoz
(16,808 posts)Wounded Bear
(58,670 posts)It is reminiscent of the pre-'08 bubble, TBS.