There has been long
time talk on the housing market being in a bubble. Many expected the
market to crash a long time ago but the property market just keeps
What with the rocketing prices of real estate in the past few years,
certain cities have seen so much growth that housing and land is
simply running out. As demand rises for housing a more attractive
housing option are condominiums.
There is currently a
huge nationwide growth in the condominium market and its know as the "manhattanization"
many cities such as Las Vegas, Miami, Toronto are all being
Many people are
seeing such a rise in homeownership and figure that if they don't buy
now in the future they wont be able to afford it. As people panic buy
they find them selves in loans that they may not be able to afford down the road.
Jumbo Loans Balloon
loans, ARM Loans etc
Many investors and
home buyers are purchasing homes with as little down payments as possible and
committing them selves to loans that they don't understand. Once home
loan rates go up there is likely to be many people who cant afford the
loan payment that they have got them selves into.
So If We are In a
Bubble When Could It Burst?
Soon as the market starts to cool off there could be signs of a
bursting bubble. What with oil prices getting out of control its
expected that Americans will have a lot less money to spend, that may
have a knock on effect putting the country in to a much anticipated
recession. A recession may be enough to put burst any bubble that we
could conceivably be in.
can be a good time to buy a home providing you understand the loan
contract your entering. If your scraping the bottom of the barrel to
get a deposit for a home loan you should probably wait. If your not
100% sure that you will be able to afford all the loan payments in the
future waiting is probably your best option.
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