http://www.northescambia.com/2016/06/column-is-the-local-area-heading-for-another-housing-bubble Local News for Molino, Bratt, McDavid, Century, Walnut Hill, Cantonment Sat, 25 Apr 2026 20:00:33 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.northescambia.com/2016/06/column-is-the-local-area-heading-for-another-housing-bubble/comment-page-1#comment-324442 watchingtheland Mon, 27 Jun 2016 15:18:32 +0000 http://www.northescambia.com/?p=256264#comment-324442 In my view, it was the national problem of easy credit that made it possible for a bubble to happen in the Pensacola/Mobile region. Incomes were not soaring commensurate with home values. Let's be honest- The Pensacola/Mobile region has a very low income index and cost of living as compared to the rest of the nation. Try visiting New York or Los Angeles when you're vacationing, or worse yet...Switzerland... and you'll quickly see how much our income lags in comparison. I recently ran an income comparison, and to survive in NYC, one would need to make at least $105,000. That is commensurate to $40,000 here. Albeit our prices are MUCH lower than other parts of the country, the rent here is astronomical, and this insult to injury of people in lower middle income brackets is a formidable foe to home ownership. The best for people to do is learn to live within their means. A person with 3% down is generally a much better borrower than one with nothing down. New cars, electronic toys, the most up to date ____ must go on the back burner if one is going to get ahead. But that's not a popular message in today's selfish, 'I want it NOW!' society. In my view, it was the national problem of easy credit that made it possible for a bubble to happen in the Pensacola/Mobile region. Incomes were not soaring commensurate with home values. Let’s be honest- The Pensacola/Mobile region has a very low income index and cost of living as compared to the rest of the nation. Try visiting New York or Los Angeles when you’re vacationing, or worse yet…Switzerland… and you’ll quickly see how much our income lags in comparison. I recently ran an income comparison, and to survive in NYC, one would need to make at least $105,000. That is commensurate to $40,000 here. Albeit our prices are MUCH lower than other parts of the country, the rent here is astronomical, and this insult to injury of people in lower middle income brackets is a formidable foe to home ownership. The best for people to do is learn to live within their means. A person with 3% down is generally a much better borrower than one with nothing down. New cars, electronic toys, the most up to date ____ must go on the back burner if one is going to get ahead. But that’s not a popular message in today’s selfish, ‘I want it NOW!’ society.

]]> http://www.northescambia.com/2016/06/column-is-the-local-area-heading-for-another-housing-bubble/comment-page-1#comment-324435 Realestate Mon, 27 Jun 2016 12:16:54 +0000 http://www.northescambia.com/?p=256264#comment-324435 The value of dirt and realestate after the 2008 collapse declined to historic 1997 levels locally which now have recovered to 2005 levels. Real property should be a hedge against inflation as rents go up in line with it. We still have 11 years of lost value to make up for before we can say we are in another bubble, 3% per year - 5% per year that gives you 33 to 55% higher prices to be linear track. Stock market at a record top I would say best investment around is in real property for this cycle. Rates are low to buy rent is skyrocketing. God only gave us a finite quantity of realestate, he aint making any more, people are once again moving here in droves, my bet is buy as much as you can, you will never see the prices of yesterday in my life time. The value of dirt and realestate after the 2008 collapse declined to historic 1997 levels locally which now have recovered to 2005 levels. Real property should be a hedge against inflation as rents go up in line with it. We still have 11 years of lost value to make up for before we can say we are in another bubble, 3% per year – 5% per year that gives you 33 to 55% higher prices to be linear track. Stock market at a record top I would say best investment around is in real property for this cycle. Rates are low to buy rent is skyrocketing. God only gave us a finite quantity of realestate, he aint making any more, people are once again moving here in droves, my bet is buy as much as you can, you will never see the prices of yesterday in my life time.

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