The economy is booming...

sidfeinberg | Feb 5, 2013 03:27 PM ET swfljim | Feb 5, 2013 02:53 PM ET Speaking as a Realtor in Southwest Florida (Bonita Springs-Naples area), prices here were up 17% on average last year and the available inventory is down almost 10% year over year. In the low price category,risen, but this area was one of the hardest hit in the recession and blah blah --- son SW Florida is a service oriented economy, it won`t be able to support the prices. Did the local average wage go up 17%? You already have giant gated communities where all the Canadians live and the locals just hope they can get jobs as towel attendants for the Canadians at the Country Club Think of what happens when all the locals get priced out. Canadians have true buying power, the Looney is up 30% against the dollar and our prices are in half.

FACTcheck | Feb 5, 2013 03:28 PM ET @MBA_grad Try subletting your place. A landlord can only charge you rent until he finds another tenant. He may charge a penalty for the sublet, but usually it is not more than a month. Depending on your state it could be legally capped. You should look into it.

UvBenForwarnedN2012 | Feb 5, 2013 03:40 PM ET OUR GOVERNMENT IS A CORRUPT SHAM...it will fail, its just a matter of time. The Fed for lack of a better word is holding the middle class hostage, draining their savings, while Obummer steals thier capital...got to have that new world order huh???

danatcnbc | Feb 5, 2013 04:03 PM ET Salary remains the same...nothing income wise has changed. This bubble is caused by the GOVT. Previously by Banks and now..... Pooe RE people...Good luck

Mr.Clumpus | Feb 5, 2013 04:56 PM ET logan you are missing the point, if interest rates rise to 6%, the market has demand for mortgages at 6%, if there is no demand for mortgages at 6% then interest rates will not be at 6%. It`s simple market stuff, has nothing to do with the Fed or Fed interest policy. Perhaps you don`t understand your own premise, i.e., that mortgage interest rates will rise to 6%.

sidfeinberg | Feb 5, 2013 05:50 PM ET Who cares about the rising prices, I`ll just go to those pyramid scheme websites that "Abbass325 & sahra89" are pushing and I`ll make millions just doing multi level marketing or buying trinkets and selling them on ebay.. Yeaaahhh booyyy Then I`ll go to one of those Chinese web sites and buy myself some fresh gear and at 75% off. All I have to do is give my credit card number to a Chinese sweat shop Let the prices go up 200%, I`ll still be able to buy cash.

sidfeinberg | Feb 5, 2013 06:25 PM ET See,,,,even elisha284 is making money hand over fist and is living large in Moscow. The economy is booming

LoganMohtashami | Feb 5, 2013 07:18 PM ET @Mr.Clumpus "Perhaps you don`t understand your own premise, i.e., that mortgage interest rates will rise to 6%." Clumps that was actually funny! :-) However, the term normilzation of rates might be a bit to hard for you to understand and how the FED balance sheet works and the unwinding process. Here is good lesson for you learn. FED`s involvement in bringing rates down since 2008 Since 11/25/2008 .... Up to Jan 2013 81% of the days from that point the Fed has been in the market place pushing rates lower. This is why the Fed`s balance sheet is 3 trillion heading to 4 trillion which they have to unwind at some point. Now, I understand if you don`t understand what unwinding means but you can make the correlation that rates are artificially low Mortgag

LoganMohtashami | Feb 5, 2013 07:20 PM ET e rates went from 5% in early 2011 to as low as 3.25% in 2012 and you know there was no increase demand in Mortgage Purchase apps, you did know this right? Since the Spanish default Fear trade ended the 10 year note has gone from slight below 1.40 yield to over 2% getting this, so far.. so on base let`s take the FED MBS purchase out of the equation you think mortgage rates in a few year wouldn`t just have a reversion to the mean move higher and get back to where it was Pre Fed when it was in the 6%






Start a Conversation - Add Comments

Your Comment: ( Please enter all fields and security code. )

Name:
Email:
Website:
Topic:
Comments:
 
Word Verification:
 

Latest Comments

US New Home Sales Fall, but Sector Remains a Bright Spot - Yakov72 | Jan 25, 2013 10:07 AM ET "New Home Sales Drop to 369,000 in December, Less Than Expected"(c) Hysterical header. And some would say that CNBC spreads "panic" and "drama". Consensus was 385K.... - by Fall13

Banks Told To Review Their Own Foreclosures - countdown_to_facebook_ipo | Feb 13, 2013 08:30 AM ET Sharks being asked to report on other sharks. Priceless.

PINKFLOYD1 | Feb 13, 2013 08:34 AM ET The banks will get out of all this ... - by Fish24

What Home Buyers Want - seveneleven | Feb 25, 2013 03:17 PM ET If I can usually keep my electricity bill b/w $25 and $35 per month,I know most americans with a little knowledge could drastically reduce their bills.My gas bi... - by limo722

US Mortgage Applications Up for Third Week - handballforlife | Jan 23, 2013 07:18 AM ET The homeless are buying and getting great deals with there new EBT cards used exclusevly for home purchases....what a county we live in.....thanks Mr Presid... - by bcmo

Jumbo Mortgages Are Back, but at Far From 2007 Levels - MandyBrazil | Feb 27, 2013 03:58 AM ET if the bank is demanding 30% down and 760 score plus verification of income plus one year payments in bank, how can it be a risk? this is great news
TexasLH



The economy is booming...

Real Estate Agent Directory

Are you looking for a real estate agent in your area? At housing news blog, you can search for your local realtor and real estate service by using our agent search features.

Real Estate Agent Directory

Get listed!

Are you a real estate agent? Get listed for free with us! Complete a real estate agent profile form and get listed in a few days. Click on the link below to get started!

Free agent profile!