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Luxury High End over heated - says Cindy Stumpo-RE Develop..

 
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PostPosted: Tue May 21, 2013 1:14 pm GMT    Post subject: Luxury High End over heated - says Cindy Stumpo-RE Develop.. Reply with quote

Bloomberg Radio interviewed High End Real Estate Developer/Builder - Siny Stumpo- and she thinks the Market is overheating...

https://soundcloud.com/samuel-bridger/cindy-bloomberg

As you can imagine Bloomberg radio chose not to save her interview to the Bloomberg i-Tunes library - big surprise!
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PostPosted: Tue May 21, 2013 5:05 pm GMT    Post subject: Reply with quote

Thanks for the link. That was definitely a worthwhile listen. What Ms. Stumpo says definitely rings true with my experience attempting to buy right now. The current environment is abysmal for buyers.

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PostPosted: Wed May 22, 2013 2:39 pm GMT    Post subject: Reply with quote

I just spoke to a very smart friend celebrating the fact that the value of his home is almost back to the value he paid for it.......He has absolutely no appreciation for the fact that the falling interest rates are driving the value of his home.....what will his home be worth in 10 years....Less than today I suspect.
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PostPosted: Wed May 22, 2013 5:17 pm GMT    Post subject: Reply with quote

I fully expect to lose a lot of money by buying right now, at least in inflation adjusted terms (which is what matters), and maybe even nominal terms too. It's possible that this won't happen if QE becomes another permanent handout to the FIRE industries rather than the temporary stimulus for the broader economy it was claimed to be, and if no other upward pressure on mortgage rates arises out of the many possible catalysts there. However, current real prices are tenuous, they have multiple, single points of failure, and I don't see an upside given that mortgage rates have next to no room to fall further (although I thought that before and yet they continued their descent).

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