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A New Housing Bubble Forming…Not Before 2024!

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 article, How 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.

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About Area

The ancient mountains, rolling hills, and pristine creeks and rivers of the North Georgia mountains have a way of calling you out into the wild, no matter the season. And the majestic mountain setting that makes the outdoors so fun and inviting also provides some of the most amazing backdrops for a home as well. Many natives to the area have perfected the art of “porch swing sitting” and will be happy to share their notes with those who need to relax a bit. With so many homes having views of nothing but the majesty of nature in many different forms, it’s no wonder the art of sitting quietly to unwind is widespread. It’s also widely understood and ensured that these mountains will remain pristine for many generations to come. The Chattahoochee National Forest makes up a large majority of land in the region, and therefore it will remain virtually unchanged and undeveloped by people for many, many years to come. The bounties of the land and celebration of mountain heritage are favorite themes for the many festivals held throughout the area and throughout the year. Local farmers, mountain artisans and entertainers have a huge, artistic and loving stage on which to showcase their talents. People from all over the world and from all walks of life come to enjoy the good food and good times of these southern Appalachian festivals. The incredible display of Mother Nature in these mountains is definitely a great reason to find a home here, add to that the never ending events and abundance of talented and lovely people and there’s really no reason not to.

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