This week's reading informed us of bubbles, in particular the housing bubble. As housing prices increased its was a hot time for real estate. Who wouldn't want to buy a house when a year later it would be worth more than the price it was bought for. Six years after the housing burst it is interesting to see where the housing market stands today.
Basic investment principle tells us that when prices are low it is time to buy. This article by CNN Money goes into the best moves right now for buyer, sellers, and anyone interested in real estate. Do you think now is the prime time to buy a home, or do you think the market is still unstable. Do you personally know anyone who is looking to purchase real estate?
The article also includes a video about the housing market making a come back in Orlando. Check it out!
I know someone who is a real estate agent and he informed that at least to him, the market has really been looking up. I don;t know if I would go as far as to say it's a prime time to buy but it is definitely better than a few years ago.
ReplyDeleteMy mom actually just bought a new house in Ann Arbor. She looked at a couple places in the last few months and found that there were several competitive offers being made on each. Maybe this is a sign that the housing market is coming back?
ReplyDeleteThe housing crisis is definitely getting better but still not the same it was before the big crash. I feel like the housing situation has really hurt our economy but it has also deterred a lot of people from considering real estate as a career.
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