I’ve already expounded a bit on my thoughts on the real estate market, but here are some interesting sites that I view as Pro-Bubble:
- An opinion article in the Economist Magazine takes a wider, world view. This article is a bit long, but a good read in comparing real estate markets in Britain, Australia, Japan, and the U.S. over time. Verdict: History says prices can go down, so watch out.
- Even Kiyosaki warns of a bubble (of Rich Dad, Poor Dad fame). As much as I think Kiyosaki is more of a salesman that real-estate investment genius, I do take this point well – If you can’t get positive cash-flow out of your investment or rental house, don’t buy it. It’s as simple as that. There are still opportunities to do this, but more on the lower end. (Article credit to Fatwallet).
- How’s this for evidence of a bubble? CondoFlip.com – “Bubbles are for Bathtubs”. Uh-huh. ‘For Buyers and Sellers of Preconstuction Condos’. You’re buying and selling a condo that doesn’t exist yet. Can you say Tulips? or South Sea Company? No doubt people will make some money at this, but I can’t see how some won’t be burned. What happens when you try to refinance an ARM mortgage on a house that is worth less than before? (Link credit to The Big Picture)
Ok, now to scrounge up some Anti-Bubble articles.