Maybe its just here, wonder what my CC friends are seeing in their neck of the woods? We live in a nice neighborhood, great school district, etc, but it seems that the houses are appreciating way too fast. Ive looked at other areas as well, and its like the 2008 housing crash never happened. With the stock market way down, are we headed for another crash?
In Michigan, no. No, no, no! Things are better than they were but not to 2007.
I thought your post was going to be some type of joke, but you are serious.
Home ownership is actually at its lowest level since 1967*. Rents are exploding, but there does not appear to be a housing bubble in most of the country.
Where do you live?
*http://www.cnbc.com/2015/07/28/home-ownership-rates-drop-to-lowest-since-1967.html
No bubble here. Housing prices went down the first half of 2014 and have been fairly flat since.
I sniff a bubble brewing here in southeast Florida . . . much appreciation in the last year or too.
But hey I’m not complaining. Putting our house on the market.
I wish it would overheat in my neighborhood where my house is on the market. 
It’s blazing hot in Denver, where there is also a tremendous shortage of inventory. A year and a half ago, my own house sold in an hour and forty five minutes for the (really ambitious) asking price. The home we bought was going to be on the market for one day only. Multiple offers, it went for 7% over asking price. A million dollar+ reno a block away sold in a week for over asking. On my old block, houses vanish within days, all for over asking. 4-bedroom, 2-bathroom 1800 square foot homes going for nearly a million. Rents are approaching levels on the coasts – without salaries to match. I’m not an expert to tell you whether this qualifies as a bubble.
Home prices are plummeting in my neighborhood. Homes purchased in 2013 are being sold at a 12-15% loss today, if they sell at all. We also have three empty houses in our development of 175 homes. It’s very bleak.
Mine isn’t even lukewarm in my rural, rust-belt Midwest area. I have 3 rentals in a tiny, one blinking light town. The only way to get rid of them would be to give them away. I’d love to downsize, but I’d never come close to getting what I put into this house.
fixing my typo after time is up: *two (not too).
Eek I hate that kind of grammatical error.
The houses in my area are up 25-35 percent since 2009. I mean if we sell thats good for us, but Im getting jittery considering whats going with the stock market.
We live in a very good school district in an affluent area, but our house is still not worth what we paid for it at the height of the market in 2006. And now with the market tanking, I’m happy I’m not planning to retire for several years.
The San Diego market is forecast to rise another 9% this year after several years of rising prices. Multiple offer wars are occurring in certain neighborhoods and for lower price homes. But I personally think its slowing a little from early last year.
yes it is out of control and the bubble will burst again! (just a question of when!)
When we got our tax appraisal last year after being in our house for only 2 years, it was 206K more than we paid. I’m nervous about how much it’s going to go up this year, even as the homes in my neighborhood seem to be sitting on the market longer these days.
Overheating??? We don’t have a real estate market here in CT. We have a moronic governor who lets companies like GE leave the state and go to other expensive states to do business.,
We live in California and in recent months our home finally rose in price back up to what we paid for it in 2004. So that’s good, and it doesn’t feel like an overheated market. However, we also own a small rental property in Portland, OR and that has skyrocketed, making me worried! I mean we all want our investments to pay off, but if it’s a bubble that bursts, that’s no good. From these comments it is obvious that it’s certainly not a national bubble!
@b1ggreenca agreed, definitely not national, but the places where its happening is scary. There have been a ton of teardowns in my area, and they are throwing up homes for 700-800k, which is amazing to me. These same houses wouldve been 500k a few years ago. I guess they are paying for the land.
In Southcentral Alaska prices are climbing (about twice as fast as inflation), but only for midrange houses (which here is the $275k–$400k range). Anything above that really isn’t selling at all, and everything below that is selling but not really going up. Rents across the board are going up fastest of all.
Upward pressure on prices is provided by Anchorage being essentially out of buildable land, along with a number of legal, cultural, and seismic-zone-versus-soil-quality barriers to building upward. Providing downward pressure, the housing stock here is aging, and the oil industry (which is a huge chunk of our higher-paying jobs) is hurting badly. It’s an interesting thing to experience, owning a house in a historically boom-and-bust sort of place.