Comments on: Most Overpriced Housing Markets http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Thu, 20 Jun 2013 03:43:02 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Matilda Ljungberg http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/comment-page-1/#comment-149587 Matilda Ljungberg Sun, 28 Sep 2008 13:22:51 +0000 http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/#comment-149587 This doesn't surprise me at all. My home state, California is on the list 12 times & every single one is listed as overpriced. One of the reasons I moved out of state. This doesn’t surprise me at all. My home state, California is on the list 12 times & every single one is listed as overpriced.
One of the reasons I moved out of state.

loading....

]]> By: Scotto http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/comment-page-1/#comment-132364 Scotto Thu, 15 May 2008 01:06:04 +0000 http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/#comment-132364 I am surprised that GRS is stil (in May of '08) providing links to housing market stories that are almost two years old! Too much has happened since then. I am surprised that GRS is stil (in May of ’08) providing links to housing market stories that are almost two years old! Too much has happened since then.

loading....

]]> By: Mattster http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/comment-page-1/#comment-4297 Mattster Thu, 27 Jul 2006 14:43:04 +0000 http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/#comment-4297 The over/under valued thing in itself is spurious. "Over/under valued compared to what?" is the best question. You don't just pay for the building materials, that's pretty universal. You are paying for the land the damn thing sits on. You get a discount in El Paso because land is plentiful and no one wants to live there. You pay a premium in CA for desirability and scarcity. Concrete and stucco costs roughly the same everywhere. There is no such thing as overpriced land. It's relative to demand. The over/under valued thing in itself is spurious. “Over/under valued compared to what?” is the best question. You don’t just pay for the building materials, that’s pretty universal. You are paying for the land the damn thing sits on. You get a discount in El Paso because land is plentiful and no one wants to live there. You pay a premium in CA for desirability and scarcity. Concrete and stucco costs roughly the same everywhere. There is no such thing as overpriced land. It’s relative to demand.

loading....

]]> By: Andrew G http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/comment-page-1/#comment-4294 Andrew G Thu, 27 Jul 2006 12:57:20 +0000 http://www.getrichslowly.org/blog/2006/07/26/most-overpriced-housing-markets/#comment-4294 I live in the Tampa/St. Petersburg area, an area which is rated as 33% overvalued. However, this is beginning to change. In the past few years, there has been a rush to convert local apartment complexes to condos. This has led to a sort of artificial housing shortage due to the number of apartments that were off the market during conversion. However, so many condo conversions have been done that the developers who started the projects are having a hard time selling the completed units; and some are even resorting to renting the units rather than attempting to sell them. This is beginning to drive down the cost of condos, which is in turn driving down the cost of housing overall. This is already being seen - houses are staying on the market much longer than they were a year ago, or even six months ago. So while I wait for the housing market to return to something resembling equilibrium, I'm living in an apartment and paying off my debts so that I can starting getting rich (slowly). I live in the Tampa/St. Petersburg area, an area which is rated as 33% overvalued. However, this is beginning to change. In the past few years, there has been a rush to convert local apartment complexes to condos. This has led to a sort of artificial housing shortage due to the number of apartments that were off the market during conversion. However, so many condo conversions have been done that the developers who started the projects are having a hard time selling the completed units; and some are even resorting to renting the units rather than attempting to sell them. This is beginning to drive down the cost of condos, which is in turn driving down the cost of housing overall. This is already being seen – houses are staying on the market much longer than they were a year ago, or even six months ago.

So while I wait for the housing market to return to something resembling equilibrium, I’m living in an apartment and paying off my debts so that I can starting getting rich (slowly).

loading....

]]>