Just a little FYI for my readers…….
Remember back to 2007…..that was the year that the economy dropped like a rock…..and the housing market lead they way…..and we have been clawing back ever since……lots of lost money and lots of anger by the people of this country.
The president and the Congress worked hard (sorry that is the wrong word but for the sake of sanity I will let it go) to make sure that this type of crash never happens again…..do you believe that? (then I have a bridge I would like to talk about)…..
Here are some other troubling anecdotal signals on the housing market:
1. A major financial website recently ran a guide to the best cities to “flip” houses in. (I don’t want to encourage the behavior.) Real estate speculation via house “flipping” was another early sign of trouble ahead.
2. A few days later, news arrived that home prices in the Bronx had shot up by an astonishing 30% in the first quarter. Crazy advances in home values were, a decade ago, also a signal of trouble ahead.
3. Ads, then as now, were running on TV for “quick mortgages.”
All of these signals raise a serious question: Are we getting closer to another housing meltdown that will once again damage your investment portfolio?
Here we go again sports fans……