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I keep reading that there is a Real Estate Bubble and It's going to burst!
My home and my 2 rental properties will be worth 30% less than they were yesterday.
Well the other day I am reading an article in Old Fart Magazine about the housing bubble. It talks about overvalued and undervalued homes. Like... College Station Texas is undervalued by 23% and Naples Florida is Overvalued by 84% . Figures from http://www.nationalcity.com/corporate then click on Economics and scroll to Housing Value Analysis. Well here in Jacksonville we are overvalued by 30% it says…
My wife Kelly is a realtor and she says here in North Florida. Prices are still going up…. And there are plans to build a whole new town between here and St Augustine. The town is called Nocatee http://www.nocatee.com/ and the plan is for 1400 new homes.
She showed me the plans and wants me to scan it and put it on her website http://www.NEFLNewHomes.com
SO.. thats a lot of homes going into the BUBBLE I think Florida is going to Sink some day.
So…. If the bubble is going to burst…. I don't think it will be here right away.
It must be where someone else lives......
Like...
California or ...New England?
I think it will be somewhere on the west coast or the Northeast. The midwest will become the place to buy, because those values will only continue to go up.
Due to the frequent use of the ARM a few years ago, there are about to be a lot of foreclosures flooding the market. I'm waiting to scoop them up.
When will the RE BUBBLE burst? 
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