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A New Housing Bubble Forming…Not Before 2024!

by Melissa Thompson

A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008.

Recently, several housing experts weighed in on the subject to alleviate these fears.

Sean Becketti, Freddie Mac Chief Economist

 “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.”

Edward Golding, a Senior Fellow at the Urban Institute’s Housing Finance Policy Center

 “There is not likely to be a national bubble in the way that we saw the first decade of the century.”

Christopher Thornberg, Partner at Beacon Economics

 “There is no direct or indirect sign of any kind of bubble.”

Bill McBride, Calculated Risk

 “I wouldn’t call house prices a bubble.”

David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices

 “Housing is not repeating the bubble period of 2000-2006.”

A recent article by Teo Nicolais, a real estate entrepreneur who teaches courses on real estate principles, markets, and finance at Harvard Extension School concluded that the next housing bubble may not occur until 2024.

The articleHow to Use Real Estate Trends to Predict the Next Housing Bubble, looks at previous peaks in real estate values going all the way back to 1818. Nicolais uses the research of several economists. The article details the four phases of a real estate cycle and what defines each phase.

Nicolais concluded his article by saying:

“Those who study the financial crisis of 2008 will (we hope) always be weary of the next major crash. If George, Harrison, and Foldvary are right, however, that won’t happen until after the next peak around 2024. 

Between now and then, aside from the occasional slow down and inevitable market hiccups, the real estate industry is likely to enjoy a long period of expansion.”

Bottom Line

The reason for the price appreciation we are seeing is an imbalance between supply and demand for housing. This has created a natural increase in values, not a bubble in prices.

Let’s the expert’s at The Melissa Thompson Team help you with all your Real Estate needs. 901-729-9526 or [email protected] 

By: KCM Crew

YOUR HOMESEARCH STARTS HERE            FIND OUT WHAT YOUR HOME IS WORTH  

Surprising Fire Hazards and How to Avoid Them

by Melissa Thompson

It is estimated by The National Fire Protection Association that over 47,000 home fires reported to fire departments are caused by some kind of electrical failure as a trigger to ignition.  But there are some other unusual ways that fires can start that we should all be aware of.

Dishwashers

While you may be aware that overheating dryers or ovens can cause fires, you might think dishwashers are safe because they have water. And water puts out fires…right? Wrong!  Dishwasher fires can be caused by liquids coming into contact with the machine’s wires.  Serious damage can occur when fires are ignited in dishwashers.  According to a 25-year veteran of the New York City Fire Department, any appliance that powers a motor, heating element, or both always has a higher risk for fire - and dishwashers are a common example.  He advises that they never be turned on when going to sleep or leaving the home.

Jars and other glass objects

Per survivalists, one of the best ways to start a fire is to use a piece of glass to refract sunlight onto dry wood.  Without proper care, that same scientific process can happen on your own kitchen table.  In 2015 a fire broke out in a southwest London home because of sun rays reflecting through an empty Nutella jar, the Associated Press reported.  While it may seem to be a freakish way for a fire to start, the fire brigade’s investigative unit confirmed that the glass jar was to blame.  The chances of this happening in your home are slim, but it is important to remember to never store flammable liquids like gasoline, cleaning fluids, paint thinners and even cooking oils in glass jars that you intend to leave out in the sunlight.  Metal cans for commercial-use flammable liquids and plastic containers for things such as cooking oils are safer options.

Rodents

Small rodents like squirrels and rats like to burrow into your attic insulation in cold weather and chew anything they can get their teeth on, including rubber covered electrical lines.  Unfortunately, if electrical wires become exposed dud to their protective insulation being compromised, there is a likelihood of igniting a flame.  The key to preventing this from happening is to keep the critters out to begin with.  Before winter season, make sure all vents are covered, holes are patched and cracks are sealed.

Laptops

If you have ever had your laptop computer in your, well, lap for an extended period of time, you know that they get hot.  Because of this, it is a bad idea to leave one sitting on a flammable surface such as bedding, furniture or carpet.  But the real culprit behind laptop fires is the lithium in the batteries.  A poorly made battery can overheat and burst into flames.  Last year the Samsung Galaxy Note 7 smartphones were recalled because they were catching on fire and it was the lithium batteries that were the problem.  Any device powered by lithium ion batteries should be shut off when not in use and stored away from any flammable items.

If you are in the market to purchase a home,  make sure you don't skip the home inspection so that you will know about any potential problems, including fire hazards, prior to making a commitment to buy.  Melissa Thompson and her team of professionals are ready to help you find your perfect home. Give them a call at 901-756-8900 today!

Photo Credit: livelovesmall.com​

1532 EXMOOR LN, Collierville, TN

OPEN HOUSE March 11, Sunday 2:00 PM - 4:00 PM

$ Click for current price
4 BEDROOMS | 5 (4 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/9998916 to view more pictures of this property. Amazing Brand New 5 Bedroom(2Down), 4.5Bath, Celtic Manor Built Home in The Stables Subdivision in the Sought After Wolf River Corridor of Collierville! All Bedrooms w/Attached Baths, Granite Galore, Incredible Covered Porch w/Fireplace, Gleaming White Oak Hardwood Floors, GE Profile Stainless Steel Appliances, Soaring Smooth Ceilings, Soft Close Drawers & Doors, Incognito Custom Closets, Spacious Great Rm w/Gas Log Fireplace, Media Rm, 3 Car Garage, Architectural 30Year Asphalt Roof!

 

Displaying blog entries 11-13 of 13

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Melissa Thompson
Crye-Leike Realtors
6525 N Quail Hollow Road
Memphis TN 38120
(901) 729-9526
(901) 756-8900
Fax: (901) 435-0620