November 11, 2005
According to real estate investors HOUSING BUBBLES DON’T COLLAPSE SUDDENLY. Experts are predicting a 10 to 15-year downturn of the current boom. A case in point is the current rise in home equity loans, housing prices are declining and while sales are continuing; they are doing so at a slower pace.
Purchasers at the top are now feeling the psychological effects of being underwater and feeling swallowed up by general market decline. Youch! According to a recent report in the O.C. Register, 43% of all jobs created since 2001 have been housing-related. Realtors are claiming that rents are fixed now at much higher rates and homeownership presents varying degrees of costs (some are even suggesting that the market is all over the map.
Cities are encouraging incentives to head off neighborhood neglect. Orange County is witnessing employment that is driving sales and moves to other regions.
Analysts who are trying to make sense of it all say that soon “mcMansions” will be subdivided for rentals as multi-family homes (just look at what is happening on the east side Costa Mesa).
Ah, then in 10 – 15 years it will be time to buy LOW once again. I think there is no place like home (my home) for now...
Purchasers at the top are now feeling the psychological effects of being underwater and feeling swallowed up by general market decline. Youch! According to a recent report in the O.C. Register, 43% of all jobs created since 2001 have been housing-related. Realtors are claiming that rents are fixed now at much higher rates and homeownership presents varying degrees of costs (some are even suggesting that the market is all over the map.
Cities are encouraging incentives to head off neighborhood neglect. Orange County is witnessing employment that is driving sales and moves to other regions.
Analysts who are trying to make sense of it all say that soon “mcMansions” will be subdivided for rentals as multi-family homes (just look at what is happening on the east side Costa Mesa).
Ah, then in 10 – 15 years it will be time to buy LOW once again. I think there is no place like home (my home) for now...
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