5,104,931
NO, NO, NO! It's economics 101... less supply, more demand, prices go up! Not sure why anyone brings up the bubble issues these days or for the past year, for that matter. The last time we had a bubble, we had plenty of supply to meet demand... home appreciation was speculative.
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Jeff Dowler, CRS
Carlsbad, CA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
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Joan Cox
Denver, CO
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Lyn Sims
Schaumburg, IL
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Brian England
Gilbert, AZ
4,692,903
I wouldn't say it is a bubble at all, I don't see it bursting, haha. It makes me laugh when the "experts" just throw something out there in order to act like they know what they are talking about.
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
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Joan Cox
Denver, CO
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Lyn Sims
Schaumburg, IL
628,764
No, supply & demand. The resale market supply has been effected by the lack of new construction during covid due to lack of supply & labor. Also many who would have put their houses on the market have not due to uncertainty of finding another property.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
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Joan Cox
Denver, CO
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Brian England
Gilbert, AZ
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Nina Hollander, Broker
Charlotte, NC
5,216,370
I don't think so. Supply and demand may be increasing prices at a more rapid pace in many areas, but demand may also be driven by artificially low mortgage rates.
The factors for a bubble do not exist at this time, but the times they could change as world unrest and disrespect for our current administration continues.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
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Lyn Sims
Schaumburg, IL
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Brian England
Gilbert, AZ
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Nina Hollander, Broker
Charlotte, NC
2,182,502
No , currently Supply and Demand is driving Value
By 2023 Prices will still be rising because our Dollars will continue to lose Purchasing Power !!
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Greg Large
Grove City, OH
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Brian England
Gilbert, AZ
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Nina Hollander, Broker
Charlotte, NC
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Michael J. Perry
Lancaster, PA
6,392,929
I wouldnt worry about that for a while.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Karen Climer
Orlando, FL
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Greg Large
Grove City, OH
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Brian England
Gilbert, AZ
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Nina Hollander, Broker
Charlotte, NC
901,493
No. Pent up demand vs. supply. We still have a few years before we catch up.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
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Joan Cox
Denver, CO
3,344,906
When I think of bubble the song Tiny Bubbles comes to my mind.
As for a real estate bubble, I do not believe we are in a bubble. As others have stated, econ 101 - supply and demand. In my Silicon Valley market - people have the money and are paying massive premiums for homes that need a lot of work.
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The Villages Realty
San Jose, CA
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
378,387
Nope, supply and demand, well qualified buyers.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Carol Williams
Wenatchee, WA
2,781,123
The 2006-2008 bubble was investor, banking and government exploitation for gain not normally intended. Within the shadows, many went for quick, and e-z returns and gave little or no regard to collateral damages. People were foreclosed upon, record evictions instituted, and major losses to insurance companies led to an emergency reset of our housing industry and all its components. None of those dynamics are in play at this time. Instead, we have a willing buyer/seller demand and realization that Real Estate is and will always be a safe, long-term investment. What does concern is the retirement pensions that are sustained by current incomes and the fact that almost one third of America is retiring. That makes necessary funds weak and in demand. Add wild cards like covid, unemployment, global unrest, supply-chain mishaps and healthcare plus gross mismanagement and you have our correct State of the Union. I don't see a bubble but a reaping of what you sow. A reset of some sort is due
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
1,844,271
Nope, mechanics of supply & demand in the works.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Nina Hollander, Broker
Charlotte, NC
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Greg Large
Grove City, OH
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Carol Williams
Wenatchee, WA
7,835,329
No. Continued inflation will make building materials even more expensive and the cost of new homes will continue to go higher.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Greg Large
Grove City, OH
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Brian England
Gilbert, AZ
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Nina Hollander, Broker
Charlotte, NC
2,684,009
No.
Supply and demand.
There is not enough supply to meet demand.
And there is no way to fix it.
With permitting costs, gasoline costs, inflation, six-month backlogs for garage doors, etc. there is no way to "build ourselves out" of this shortage.
Where is the "Demand" coming from?
Globalist investors are buying up entire subdivisions.
Millions of "new Americans" (border crossers, Ukrainians, Afghans, et al) need a place to stay.
In many places, the motels and hotels are booked up months in advance; there are no apartments available.
Florida, Arizona, Idaho and other conservative states are overwhelmed with "Tax Refugees" fleeing New York and California.
Even Tallahassee, which had the blessing of thousands of available acres to build new subdivisions, is seeing a shortage. The median price of $275K may seem low to some of you (Phoenix, Charlotte, Houston), but for Tallahassee it is a mind-numbing amount.
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
1,196,738
No...we are simply in a cycle and a correction in prices will be forth coming as part of that cycle
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Nina Hollander, Broker
Charlotte, NC
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Joan Cox
Denver, CO
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Wanda Kubat-Nerdin - W...
St. George, UT
3,125,406
Back in 2017, an AR member's brother sold his property up in SLC, Utah because they both thought the market would not be sustainable. If only he would have waited! Cha-ching!
Like other people have said...Supply & Demand in play.
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Nina Hollander, Broker
Charlotte, NC
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
1,197,052
great answers all. thanks for responding
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Wanda Kubat-Nerdin - W...
St. George, UT
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Fred Griffin Florida R...
Tallahassee, FL
5,868,472
No, and Nina has it perfectly said!
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Buzz Mackintosh
Frederick, MD
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Nina Hollander, Broker
Charlotte, NC
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Carol Williams
Wenatchee, WA
5,048,758
No, not at all. It's all about supply and demand.
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Nina Hollander, Broker
Charlotte, NC
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John Juarez
Fremont, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
1,311,377
The Bubble question keeps surfacing and the Question keeps busting and the market keeps being what it is.
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Nina Hollander, Broker
Charlotte, NC
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Joan Cox
Denver, CO
1,502,998
No. It's supply & demand. Unless invitation homes decides to exit the rental business and flood the market with tens of thousands of homes, you're not going to see any type of a serious "bubble bursting" correction. Nina Hollander, Broker is spot on. In 2008 we had the "fog a mirror loans" (which are back) but there was ample supply and people were buying homes and selling them in six months because they'd gone up. My friend was selling over 200 homes A WEEK back then. It was insane.
California is experiencing an exodus of employers, but at controlled rates and from across the state. We will eventually get more supply because of it, but it's far from the aerospace crash of the 90s when Boeing, Rocketdyne, Lockheed Martin and a couple other companies took what felt like 30% of the Ventura and Los Angeles County's jobs out of state overnight. We had 12-18 month average market times then!
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Nina Hollander, Broker
Charlotte, NC
108,016
Supply & Demand is one way of looking at it--here's another.
Compare current median home prices in your area vs. building a new one.
Acquire a buildable lot
Get permits
Hire architect
Pull in power from the utility
Pull in water or sink a well along with sewer/septic
build a 1700 sq ft (modest) home at cost per square in your area (about $400) here
That exercise puts doing it yourself vs. buying a "used" home at near double of our median home prices in my area. With the current inflation environment, this is going much higher in the near to intermediate term.
I use this exercise with clients that think we're going to have a housing market crash--it sobers them up real quick...
763,783
It is hard for me to honestly suggest someone buying an investment property at this time as I want one but would only buy a distressed sale. So I guess I do feel that prices are too high and just like an earthquake in California, a crash will eventually happen.