Could there be a repeat of the 2008 housing collapse?
CNBC reports that a new hosing bubble is on the horizon. In four major cities -- Denver, Houston, Miami and the Washington, D.C. metropolitan area – home prices are overheating.
Homes, particularly in these cities, are getting more expensive due to the tight availability and demand.
Nationally, home prices rose 6.7 percent compared to last year and are now up nearly 50 percent since the housing market bottomed out in March 2011.
“With no end to the escalation in sight, affordability is rapidly deteriorating nationally," said Frank Martell, president and CEO of CoreLogic.
However, all is not gloom and doom, some previously hot markets, such as San Francisco and the New York City, are cooling down a little.
For the full article, click HERE.
Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at email@example.com or 917-209-4452.
Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.
Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.