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Is the Real Estate Bubble About to Burst
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Recently real estate has been appreciating at staggering rates. On the finance scene, interest rates are extremely low. This means that people are able to borrow more, obtain larger mortgages, and in turn buy more expensive houses.
Right now the real estate market is on fire, but how long can the current real estate bubble continue to grow before people can no longer afford to buy, and the bubble bursts?
In general the real estate bubble is extremely localized to larger media centers around the country such as California, Florida, Massachusetts and New York. This means that the dangers of a real estate crash are localized well. Instead of huge losses, it could simply mean smaller profits. House prices may go down, but they won’t be “crashing.”
It could mean bad news for people who make money by “flipping houses” however. This is the practice of buying a house, then reselling it within a six to twelve months for a profit. If real estate prices stabilize and drop back to their more usual 5 - 8% per year rise it means that real estate will go back to being what it has always been - a good, solid, long-term investment, and get-rich-quickers will have to find another way to make money fast.
So basically, worriers can stop predicting the resounding crash of the real estate bubble falling to earth. Prices may stabilize and even drop a little - but the bottom won't fall out of the real estate market. The typical real estate owner/investor will still end up with a house and land that's worth more than what he paid for it
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