In my opinion, yes, definitely based on many factors but mainly on how we have been supported for some time by over seas investments. As a Realtor in this community, I feel we are artificially supported by overseas investors that can pull out quickly if their country’s economy hits a bump as we are starting to see in China and parts of Asia recently. This reminds me of when Japan was heavily invested in US Real Estate and when their economy began to falter, their investors dumped US properties and we felt the impact. I believe if China hits a bump, the ramifications on the US Real Estate market (Commercial and Residential) will be severe and have far reaching impact beyond that of when Japanese investors pulled out.
Add the standard “History is soon forgotten” traditions that we have here at home and you can see where we ourselves are putting stress on our own Real Estate market by relaxing loan guidelines. It’s always to boost numbers for the mortgage providers but hopefully, it will not get out of hand again….. Hopefully.
Here is an article on our domestic conerns that I think everyone should read if you are interested in Real Estate.
WHAT ARE YOUR THOUGHTS?
Stuart Merida, Hall of Fame Realtor
Keller Williams Realty, SoCal and Las Vegas
626.646.7373 or 702.308.8888