They say real estate prices have never been higher. They say people are driven by their monthly payments when buying real estate. They say interest only loans are really growing in popularity. I guess all this is true and today’s report that new home purchases rose is just a confirmation of what is going on. Contrary to what the main stream media wants you to beleive, I don’t think there is a real estate bubble.
You can NEVER compare the current real estate bonanza market with the tech bubble of the late 1990’s. People can live without groceryvan.com but people will ALWAYS need a place to live. Speculation is one thing but when it comes down to it your average mom and pop need a place to raise their kids and take care of their dog.
Here is today’s top story on Yahoo! Biz:
New-Home Sales Reach Record High in JulyWednesday
New-Home Sales Hit New Record in July; Factory Orders Fall by Largest Amount in 18 Months
WASHINGTON (AP) — Sales of new homes shot up to a record high in July, while U.S. factories saw orders for costly manufactured goods drop by the largest amount in 18 months.
The mixed-message reports released Wednesday by the Commerce Department dramatized the vibrancy of the housing market and also the occasionally erratic pace of recovery from the 2001 recession in manufacturing.
Taken together, though, the reports still pointed to an economy that is moving ahead at a decent clip.
New-home sales in July soared to a seasonally adjusted annual rate of 1.41 million units. That represented a 6.5 percent increase from June’s pace of 1.32 million units, which had been the previous record.
In the department’s second report, new bookings to U.S. factories for “durable” goods — big-ticket items expected to last at least three years — declined by 4.9 percent in July from the previous month.
Read more at: http://biz.yahoo.com/ap/050824/economy.html?.v=15
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on Aug 26th, 2005 at 3:37 pm
SELL SELL SELL SELL!
Facts:
Degree Finance & Real Estate
CCIM CRIA CAM EMS GRI PARALEGAL
Vet of over 110 court cases
ReLicense 2 states
Insurance License 2 states
Stock broker License 2 states
Security-Gun License 1 state
500-600 TRANSACTIONS LAST 10 YRS
100MILLION LAST 20 YEARS
175 LAST SALES AVERAGE 1050% gross profits before expenses.
20.5months Avg.
50% plus per month average!
Is this the top of the market?
I’m putting my money and numbers where my mouth is.
These profits are like the dot com boom. Which is due to bust now in year 2005!
on Aug 26th, 2005 at 3:38 pm
Sell Sell Sell