Local home prices are surging – read more of Rich’s analysis here:
https://piggington.com/february_housing_data_big_jump_prices_inventory_approaching
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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Could be Trump effect and the threat of increasing interest rates and a slightly more hawkish Fed since the election. And with all the pie in the sky promises of federal spending, very few things hedge against inflation like owning your house.
The real interesting chart is this one:
https://piggington.com/images/feb_2017_housing_data-5.png
We are nearing or at 2005 peak housing prices with rising interest rates. Has wages/salaries increased to justify these prices or are we a few rate hikes away from disaster?
I used to think that we were heading into another bubble.
But, after several years of watching the local market and considering how the Fed juiced the markets with trillions in cash, how banks stopped foreclosing and allowed loan owners to squat in their homes for years, etc., I just don’t think the old time fundamentals apply any longer.
The old rules have been changed and I believe we’re entering a new era of hyper inflation. And one of the best ways to guard against inflation is to lock in your monthly cost of shelter and ride out the inflation storm.
“I just don’t think the old time fundamentals apply any longer.”
I’m no expert, but I think the rule of law is intended to impede clans, and empower the individual, while greasing the skids for commerce.. ideally. Anytime the rule of law is significantly undermined, we have an economic sh*tshow. That’s why we shouldn’t do it, even if it benefits me, imo.
It seems “globalism” introduces more “clans” into the formerly national economic picture, so we will have “clans” who will test our constitutional and economic ways 24/7. That’s never happened before. We’re walking down a very foggy lane.
That’s perhaps why we need an “International Money Laundering Chart” and probably other corresponding charts like, “Political Contributions by Corporate REIT’s to Local Mayors” charts, and “Community Organizer Fund Contribution” charts, and others, to figure out local real estate trends somewhat credibly.
Otherwise we’re stuck in the caboose of a train so long, we even can’t see the locomotive, much less where the tracks lead. We can only see where we’ve been, and extrapolate on that. Not the best way to figure out your destiny, imo.
I’ll live with that. It’s probably going to get tougher too, which means having to fight the fight!
Agreed. The trick to moving forward is to just summon the courage, move a step at a time, and get good help!