{"id":5777,"date":"2014-03-12T18:54:15","date_gmt":"2014-03-13T00:54:15","guid":{"rendered":"http:\/\/www.zmetro.com\/?p=5777"},"modified":"2014-03-12T18:54:15","modified_gmt":"2014-03-13T00:54:15","slug":"why-we-could-be-back-in-a-housing-bubble-right-now","status":"publish","type":"post","link":"http:\/\/www.zmetro.com\/?p=5777","title":{"rendered":"Why we could be back in a housing bubble right now"},"content":{"rendered":"<p><A href=\"http:\/\/mhanson.com\/archives\/1594\">Mark Hanson<\/a>: <\/p>\n<blockquote><p>Let me preface this note by saying \u201cI am a raging bull over houses\u201d. I love real estate. On any given Sunday you can find me and my family touring open resale houses or new builder communities. My grammar school-aged kids love it too; especially the free cookies and peering into the beautifully staged rooms and really believing that some lucky kid has every gadget or musical instrument ever made and with utter amazement on how clean he keeps his room. Of course, my wife and I fully propagate the lie by saying \u201cdid you two see how clean the Lennar boy and Pulte girl keep their rooms? Why can\u2019t you do the same?\u201d<br \/>&nbsp;<br \/>&nbsp;I think it\u2019s safe to say that America \u2014 especially the American media and Wall Street firms \u2014 has fallen in love with real estate again. But, this time around it\u2019s not \u2018all of America\u2019 like the last time; when the most exotic mortgage loans known to mankind turned every ma and pa end-user homeowner into a raging speculator. One has to look no further than the generationally low level of purchase loan applications \u2014 with rates at generational lows \u2014 to realize something isn\u2019t \u2018normal\u2019 about this housing market. Rather, controlling this housing market over the past three years has been a small, unorthodox slice of the population that \u201cinvests\u201d in real estate using tractor-trailer trucks full of cash-money slopping around the financial system put into play specifically for this purpose. Over the past few years so much cash-money has been deployed into the housing sector by unorthodox parties, that in many regions ma and pa end-user hasn\u2019t stood a chance to buy. Especially, if they need a mortgage loan, which of course presents numerous risks to the seller vs the all-cash buyer.<br \/>&nbsp;<br \/>&nbsp;In part, this is why I believe we could be back in a house-price bubble right now and not even realize it. And also because everybody is looking at the wrong thing\u2026house prices. Sound confusing? It\u2019s not, really.<\/p><\/blockquote>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mark Hanson: Let me preface this note by saying \u201cI am a raging bull over houses\u201d. I love real estate. On any given Sunday you can find me and my family touring open resale houses or new builder communities. My grammar school-aged kids love it too; especially the free cookies and peering into the beautifully [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/5777"}],"collection":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5777"}],"version-history":[{"count":1,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/5777\/revisions"}],"predecessor-version":[{"id":5778,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/5777\/revisions\/5778"}],"wp:attachment":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5777"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}