Sign of housing market top: high-end home flipping soaring

[Crewleader]

August 26, 2014

Irvine Renter 6 Astute Observations

Headlines of house flipping and increased novice investor participation of signs of a top in the housing market for high-end homes.



Contrarian investing is the art of selecting and timing investments by directly opposing the actions and attitudes embraced by the crowd of enthusiastic but ill-informed market participants. The central premise of contrarian investing is that the crowd is usually wrong, and the exuberance or panic of the crowd misprices assets, providing confident investors opportunities they can take advantage of.

Source: http://ochousingnews.com/blog/sign-housing-market-top-high-end-home-flipping-soaring/#ixzz3BVikfzEZ

[Warpy]

1. This is the first time I've seen multiple for sale signs on my street.

Housing recovery? Pull the other one.

Sales in my area remained steady during the worst of the post 2008 bust because the area of post WWII cracker box houses is attractive to people starting out and to older folks who want the convenience of inner city living with a back yard for the dog. People like me who hate commuting and needed a hedge against rapidly rising rent also bought here.

For the first time, nobody is buying here any more.

The forest of for sale signs isn't nearly as bad as Florida in 2006 or the upscale areas of town, but it's the first time I've seen houses languish on the market for over 2 months.