High gas prices triggered the housing crises? Really?
By Camilla McLaughlin
Luxury talk on Twitter last week was all about the dominance of Russian buyers. A New York Times article, http://nyti.ms/Hjnub1, tipped off the latest flurry of blurbs. I’ve been watching this trend for the last couple of years, ever since the sale of Donald Trump’s Palm Beach property. Check out the next issue of Unique Homes for our take on Russia as well as the other BRIC countries.
More New York sales include three over $20 million in the last week or two. @luxlife linked to the story in Crain’s New York Business. bit.ly/Hny26P One belonged to the estate of Ted Forstmann; another was the apartment of the reclusive heiress Huguette Clark (pictured).
Buyer’s market, seller’s market? Location is still the determining factor but more and more places are posting positives for real estate. Denver real estate sizzles with the number of homes selling up by almost 50 percent year over year. @luxury_homes and others tweeted the news. Going into the recovery, Washington, D. C. was one of the best markets and sales haven’t slacked off. bit.ly/IvFD52 Markets showing measurable improvement on the National Association of Home Builders/First American Improving Markets Index (IMI) index expanded to 101 metros. The index identifies metropolitan areas that have shown improvement from their respective troughs for at least six consecutive months. The 101 markets on the April IMI represent a net gain of two from March, with 13 metros being added and 11 markets slipping from the list while 88 markets retained their places on it. Among the new entrants are areas as diverse as Rome, Ga.; Coeur d’Alene, Idaho; Greenville, N.C.; Brownsville, Texas; St. George, Utah; and Huntington, W.Va. A shout out goes to @NAHBRemodelers for this reality check.
Case Shiller in positive territory next year, maybe.. Expect to see home prices to rise in January say economists polled by Reuters. http://reut.rs/HKWrFK @VMGProperties and others tweeted this story. Already, agents in some cities tell us inventories are getting thin. More positive news as the National Association of Realtors (NAR) predicts 2012 to be the strongest market in last five years with existing home sales jumping 7 to 10 percent in 2012. http://t.co/YNiJ7i7O @EsteliaMesimer
High gas prices triggered the housing crises, really? That’s what economists from Berkley and Oregon University say a new study indicates. Sub-prime mortgages and lax lending standards may have inflated the bubble, but high gas prices were the trigger that burst the bubble. Interested? Check out the entire explanation. http://rismedia.com/2012-04-08/some-economists-say-high-gas-prices-triggered-housing-crisis/ @mclaughlinchris