Is there a housing bubble?
Sunday, June 12, 2005
Home sales paced to set their fifth straight annual record.
How about that? Surprisingly, the average 30 year fixed rate mortgage fell to 5.62% (a 15 month low). Is there a housing bubble? Probably, but that's not stopping people from buying.
"The use of nontraditional mortgages, such as interest-only loans, have grown in the last year and the realtors said those new mortgage products have also helped support sales."CNN Money
posted by author @ 12:12 AM,
2 Comments:
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At 7:26 AM,
RG2000 said...
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I agree! Home sales in Reno, Nevada have steadily increased the past 4-5 years. My home, in particular, has increased in value almost 70% in 16 months! I don't see an end in sight for the Reno housing market. Sure, the "boom" may peak - but the appreciation will continue. Anyone prove me wrong?
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At 8:28 PM,
Housing Boom said...
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The Reno market is definitely hot, but I'm doubtful that it will keep up at the current pace. Home prices in Reno are inflated ~19%. Las Vegas isn't too far away from Reno and look what's happening there...
