WSJ: 5 Reasons Not to Jump Into the Housing Market
And the rules by which foreigners can buy real estate are relatively liberal. There is also the aspiration of Australians for home ownership. That means our market is dominated by lifestyle factors rather than purely investment factors, making buyers more prepared to pay more for a house than would a hard-headed investor.
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Much of the major housing gains now are coming in the West and South, just as in the housing bubble of the last decade. Third, “big businesses are doing a lot of buying,” he writes. Big-time Wall Street firms, such as Blackstone Group, are snapping up houses. “Their presence is driving price increases and sales volume even as they frequently outbid individual home buyers.” Fourth, “Investing in housing is nothing like buying a home [to live in]. A market that’s good for investors may not be so hot redirected for you,” Crook says. Finally, “interest rates are on the rise,” he notes.
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Are we in a housing bubble? Not even close, experts say
However, from last year, July prices soared 8.7% above 2012 levels, the company said. The report is the result of a survey of July transactions from more than 18,500 U.S. ZIP codes.
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