Experts Warn Of Housing Bubble Signs In New York, San Francisco And Miami

Bubbles

Experts Warn Of Housing Bubble Signs In New York, San Francisco And Miami

 The U.S. housing market has been on a tear in recent years, with home prices surging more than 50% on average since their trough in early 2012. But experts are now seeing disturbing signs that a bubble appears to be forming in at least three major markets – New York, Miami and San Francisco.

“When you start seeing 20% to 30% year-over-year increases in prices, which we’ve seen over the last four years in some of these markets, it’s just not sustainable,” said Daren Blomquist, a senior vice president at RealtyTrac. “People’s wages are not rising 20% or 30% a year.”

Even the “flippers” – which are investors who buy homes and sell them within a year for a quick profit – are back, which is another red flag. In the boom years leading up to the 2008 recession, speculative investors – many with no housing or real estate experience – jumped into the housing sector, buying up blocks of homes to flip. When the housing market collapsed, many were left with a glut of unsold homes, which exacerbated the housing crisis.

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Comments
One Response to “Experts Warn Of Housing Bubble Signs In New York, San Francisco And Miami”
  1. mike Drouin says:

    So in a Capitalist Democracy , it’s good for the economy to recycle …..The So called Crises of 08 , was a planned Scheme to confiscate the wealth that accumulated in the private sector as well as put out of business thousands of entities that were competition to the Major Banks concerning the Mortgage Industry . Only problem is that it was done illegally , but it seems that doesn’t matter to our politicians , or State’s Justice Departments since only 40 % of the homeowners were targeted and its all for a good cause ??? To reinvigorate the mortgage industry with stolen homes ??? Since the Banks got away with their THEFT , why not keep repeating the process ??? It would seem that our alleged Representatives agree that wealth belongs in the Hands of the Banks , not the people . So every seven to ten years the Banks create favorable conditions to buy , collect the highest interest rates on the Loans , Then trigger its collapse either by contractual obligations , such as armed Mortgages , or in concert adverse economic conditions created by the Financial and Governing sectors . Welcome to financial America 2016 .

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