Exploding Bubbles of Certainty

Posted: June 21, 2013 in Personal, The Economy
Tags: , , ,

Apparently my worries over the rapid rise in residential real estate aren’t entirely unfounded.  Realtors are starting to say that we’re seeing another bubble.  Will we never learn?  On a personal note, one good thing that could come of it is when the bubble does burst, and they always do, maybe I’ll be ready to buy a home by then.  But for the next few years, they’re rising so fast it will make it impossible for me and millions of other families to purchase a home.

  1. My whole country was wrecked by the housing bubble. My house now would sell for about €80k less than we paid in 2005. What am I meant to do? Can’t move to a place with a better paying job, as no one would rent here, and sure as shit can’t sell it. By the way, I shared your women in the elite forces post on FB and got a couple of ‘likes’ 🙂

    • drangedinaz says:

      I too was underwater on my mortgage. Couldn’t afford to pay it (thanks, in no small part to my ex) and couldn’t sell it. Eventually I walked away from the house but was able to Short Sell it. I know Ireland and most of Europe is really suffering but at this point it’s no longer the result of the original Recession so much as it is a new Recession caused by all of the austerity measures. I keep hoping that European leaders will remove their craniums from their bungholes but it’s not looking good.

      Re: sharing my post, thank you! I appreciate it, as always.

  2. alopecia says:

    Kevin Drum agrees that a new housing bubble may be inflating (http://www.motherjones.com/kevin-drum/2013/06/chart-day-we-might-be-starting-new-housing-bubble). There’s some dissent in comments, but I think you and the real estate agents and Drum are right: the housing market is definitely starting to look like a bubble, at least in some places.

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