Some home buyers are convinced that if they just keep looking, they’ll uncover value in the marketplace. They don’t realize that after a while–a month, even just a week-end–they’ll be looking at the same homes with different addresses.
CNBC says “7 major housing markets now ‘overvalued'”. Amazingly, Silicon Valley isn’t one of them. Maybe the Valley has finally turned the economists into believers. Or maybe it’s finally worn them down.
Cities that are on the “overvalued” list? You’d never guess.
It’s been splashed on the front page of the local newspapers, so it’s official: real estate is cooling. I said that a week ago, even though I didn’t have a CoreLogic press release in my inbox to tell me that. But how cool is “cooling”?
Recently it’s come to my attention that some of you home buyers are buying by the pound: you’re focusing on cities and neighborhoods where homes cost less per square foot.
Prices continue to flatten or decline slightly in most local markets, and activity continues to slow. What’s up?
So what’s happening with “foreign investors” aka Chinese buyers these days? The Chinese economy is slowing, its stock markets shedding big chunks of equity. Do they have any money–or motivation–left to buy Silicon Valley real estate?
Interested in saving the environment, or interested in saving a buck? Why not both?
“While stock markets in the U.S. have been more than a little volatile the past month or so, the dip has been nothing compared to China. The Hong Kong Hang Seng index is down more than 21 percent so far this year and more than 38 percent from its 52-week high. So what impact will troubles in the world’s second largest economy have on the U.S. housing market?”