A good walk through the current "maybe not a bubble" housing market.
Calculated Risk on The Housing Conundrum
The recent price increases make sense from a supply and demand perspective, but prices do seem too high. And I suppose the frenzy is bothering me.
It seems bubble-ish here in rural Indiana where unemployment is still high, meth and heroin are everywhere and a good job factory pays 20$ per hour with most quite a bit below that.
A house I know of that couldn't sell for a $120,000 a couple years ago just sold for $249,000. WTF.
Still, I don't see the double-wides-on-5 acres popping up like during the bubble. Also, don't hear people talking about flipping or in a rush to buy.
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