By Robert Schroeder, MarketWatch
Last Update: 2:10 PM ET June 20, 2005WASHINGTON (MarketWatch) – The possibility of a housing bust has “risen sharply in certain parts” of the U.S., thanks to a number of conditions including easier lending standards, a Fannie Mae executive said.
In a presentation prepared for a National Association of Home Builders meeting May 5, Fannie Mae’s (FNM: news, chart, profile) Thomas Lawler said housing-market conditions in many areas mirror past conditions that preceded regional housing busts. Lawler is senior vice president for risk policy at the housing-finance giant.
Well I am glad to say that I am investing well outside of those “certain parts” and in fact in an area that is consdiered undervalued by 13%against “normal housing values”
So lets see undervalued US $ against oz $, undervalued housing area and buying at 80% of value yes I will take the risk.
Hi Wayne and Bardon
i have just come home from 8 weeks in the USA, this was my 3rd trip in 6 months. One thing that really stands out to me is the diversity of prices in the USA. There are cities on the west coast like LA which are really high as are New York City and many of the East coast cities. Yet there are other areas where affordability is still very much apparent. At the top end I was looking at some RealEstate in Huntington Beach LA Califonia that was more like Sydney Prices, new condo’s (luxury) for about $500,000. House prices are about $1 million. Yet at the other end i saw many properties under $50,000, (not in California).
Regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Originally posted by westan:Hi Wayne and Bardon
i have just come home from 8 weeks in the USA, this was my 3rd trip in 6 months. One thing that really stands out to me is the diversity of prices in the USA. There are cities on the west coast like LA which are really high as are New York City and many of the East coast cities. Yet there are other areas where affordability is still very much apparent. At the top end I was looking at some RealEstate in Huntington Beach LA Califonia that was more like Sydney Prices, new condo’s (luxury) for about $500,000. House prices are about $1 million. Yet at the other end i saw many properties under $50,000, (not in California).
Regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Yes, a friend of mines bro in law recently purchased 7acres with house, bore, various outbuildings etc in Oklahoma for $30k (yes 30k, not a typo)
Cheers
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