Housing Bubble: The New Real Estate Conspiracy
Sunday 17 February
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by Dr. Steve Sjuggerud
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"You don't believe that housing bubble nonsense do you? Don't you know... it's just a conspiracy..."
I can't wait to see where this one goes. The local real estate agent continues...
"You see, the guys on Wall Street are angry. We've been taking all their business for five years. So now they're striking back. The Wall Street guys claim there's a housing bubble because they're after your money. They're trying to get your money out of real estate and back into stocks."
I laughed... on the inside. And I knew I had to share this with you.
Conspiracy theories always seem to show up in the financial markets. We've had them for years in gold and in the stock market. I guess it's now real estate's turn. Today, I'll briefly show you why I think real estate is in danger, and what I'm doing with my own real estate dollars.
A Housing Bubble Conspiracy In Real Estate?
This local agent has seen what's happened here on the Florida coast... Here's the latest anecdotal evidence on the purported housing bubble...
I had lunch with a friend today who bought a few acres here four years ago for $75,000. He told a realtor he'd take $465,000 for it, net, and the realtor said he'd sell it.
I was over at a friend's house yesterday. He lives in a relatively new neighborhood with about 25 homes close to the beach. He probably bought it around 1999 and said he "has $180,000 in it." Another house in his same small neighborhood is for sale today - for $999,000.
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