Wednesday, March 01, 2006

SOUND OFF!!!


I want to hear your comments concerning the current 'bubble' in South Florida. Does one exist? Are prices going to stabilize? Will we have a "soft landing", or a "crash'?

Feel free to post your observations and stories.

Also, take a second and participate in the poll to the right.


Thanks!

4 Comments:

At 11:08 AM, Anonymous Anonymous said...

Bubble. That is exactly what it is. A feeding frenzy which I believe started just after 9/11. I purchased (I use that term loosely, I really just signed a piece of paper to buy, err rent a home from a bank) a new home in Feb of 2002, 5 months after 9/11. Soon thereafter, articles began appearing in the WP Post regarding the scarcity of land and the huge influx of boomers (their ongoing series on R.E. In hindsght, a warning flag). Well, lo and behold, the price of my "new" unbuilt home began running, $3000 one month, $8000 the next. The builder was raising prices at $10,000 clips at times. The frennzy really began to snowball. Articles in the Post every other Sunday, prices increases once a month, sometimes twice. It fed itself. "Buy now before the next price increase", sales men told me when I stopped by the office (unkown to them that I already signed). Here I am 3 years later, all I see are "For Sale" signs or lockboxes around my unfinished community. My monthly payments are kinda hi, I cant imagine what the monthly nut would be on my same house now selling for $580,000. Scripps has nothing to do with this run up, it was greed and incompetent realtors ( I mean soccer moms and just out of school waiters turned "professional").

 
At 8:15 PM, Blogger grovey said...

Hey Bigdaddy, I vote were gonna have a crash.

 
At 1:19 AM, Blogger smartcashinyourcorner said...

Nice work.
Your blog site is right on the money.
The bubble has busted, but the sellers just get mad at their agents.
By the time the heard sees the preverbal alligator in the pond, it’s all over.
The housing market crash will be as the stock market crash of March 17 2003 when the
Dow was at about 7000.
What about the housing market crash of the 1990’s?
Nobody seems remembers the cyclical nature of history.
This time is different!!!!!
The end is near when greed turns to fear, and this gator smells blood in the water.

 
At 9:38 PM, Anonymous Sandy said...

I'm in Northwest Broward. Even in my exclusive area, there were "open house" signs this weekend! And the most for sale signs I have seen since moving here two years ago. There may be one once in a while but this weekend they were competing for space.

 

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