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  • From: Don Bowen <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Housing bubble fizzle
  • Date: Fri, 21 Jul 2006 14:54:18 -0500

At 7/21/2006, you wrote:
Notice that Bernanke himself didn't say "soft landing". He said "orderly".
What does that mean? It smacks of Greenspan's comment that the markets were
"frothy". "Orderly" sounds like the very sort of clucking, soothing sounds
someone would say to keep people from panicking in a real emergency.

http://www.latimes.com/business/la-fi-soft21jul21,0,3311200.story?coll=la-home-headlines
"The chief economist of the California Assn. of Realtors has stopped using the term "soft landing" to describe the state's real estate market, saying she no longer feels comfortable with that mild label. "



Don Bowen Awl Knotted Up KI6DIU

http://www.braingarage.com

My travel journal
http://www.braingarage.com/Dons/Travels/journal/Journal.html

I am omnivagant.
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Subject: Re: [Homestead] Informal Survey of Housing Bubble
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One acre of land acrossed the street from me - about 300ft on a hill-
(over-looking the Columbia River and two lakes)- are selling for $250,000
just because it has the river view! I live along the wildlife refuge that
overlooks the river and lakes, have a little over an acre and an average
sized home built in 71', a ranch. My head is still spinning when I hear
what my place is worth! -------I spoke with my daughter n law today and she
said we need to be prepared for our bubble to start bursting before long. I
have slowly been renovating and am pretty close to done. (saved lots of
money buying builder returns & such) One fireplace is travertine and cost
$1,200. to redo! The kitchen is a beautiful light maple, cost &3,500. Like
I said, I will most likely move 30 miles north where you can still buy a
place for around $200,000 or less---a real nice place...... and actually be
able to live!

----- Original Message ----- From: "Lisa K.V. Perry" <lisakvperry AT gmail.com>
To: <homestead AT lists.ibiblio.org>
Sent: Friday, July 21, 2006 11:47 AM
Subject: Re: [Homestead] Informal Survey of Housing Bubble


On 7/21/06, Linda <intuit AT teleport.com> wrote:
>
> This is a farming community (was) and every large acreage has a for sale
> sign on it, or HAS sold, and there are 250 new homes being built on the
> land. <snip> All my eyes see are homes being built left
> and right while the locals are scratching their heads asking how people
> can afford to buy these ridiculously expensive, and too large, homes.


This is what is happening in our county as well. We moved here in 1999,
bought our farm in 2000. Our land was $2k per acre which was average
then. Now you can't touch any size parcel under $7-8k per acre, with
particularly nice parcels with pasture land near the Blue Ridge Parkway
going to upwards of $15-20k per acre! It's absolutely unreal.

The people moving here think our land is cheap. That included me in
1999,
then we were looking to live outside Asheville NC, but the price then was
$6k+ per acre. In January, I closed a loan for a couple from outside of
San
Fran CA who purchased a 25 acre farm. They are living the dream and are
now
discovering how laborious the homesteading life is, but they're happy. We
also get retirees from NC and younger retirees (50's) from all over (MA,
NC,
WA, MD, PA) who made a killing in the stock market or inherited or
something... who are buying farms and starting B&Bs or just for the heck
of
it.

There is some good news, I have met younger adults (30's) who are moving
here to buy a farm to start CSA's and organic farms. Have closed a couple
of those loans in the last few years and meet more people like that all
the
time.

Lisa
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