Monday, September 26, 2016

The Real Estate Bubble is Popping

In 2006, the real estate bubble popped.  10 years later it is popping again.  Here are some markets:
Vancouver B.C.
The Hamptons
Manhattan Luxury Real Estate Market
Manhattan Condos
San Francisco - has not popped yet, but employment has peaked and thousands of new units are being built, putting pressure on the rental market
Houston Office Space
Houston New Apartments
Honolulu - has an apartment vacancy rate of 11%

And new home construction nationwide, except the West:  "By region, sales fell the most in the Northeast, dropping 34.3 percent. Sales in the South were down 12.3 percent, and they fell 2.4 percent in the Midwest. The West was the only region of the country that saw a sales increase last month, a rise of 8 percent."

Seattle - rent prices dropped 13% in one month (Aug 2016 to Sept 2016), and the same report says that San Jose dropped 12%, LA dropped 8%, and Boston dropped 7%.

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