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Post by Swampy on May 18, 2013 18:55:58 GMT -5
Bloomberg says so, but I'm not sure, because housing fell so steeply it had nowhere to go but up. And, not too long ago, everyone was talking of how real estate would take the longest time to recover. If I had the ability, I'd buy core real estate in Detroit, because Motown will not go away, especially given the resurgence of GM and Chrysler.
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Post by mcnoch on May 19, 2013 0:33:30 GMT -5
Of course there is a bubble forming already, not everywhere but in some areas where the people tried to secure their money in 'concrete-gold'. You can see that in where the professional investors are buying real-estate, as soon as they leave an area you know it is already overpriced again.
Well, I'm not sure Detroit will still be the Motown in the future. The car-maker industry is currently undergoing deep changes and it is very open how this will develop and believe me the factories are gone quickly as their logistics is so well organized. So at the moment I won't look for the car-manufacturing industry in making decisions in real-estate. So I would suggest looking for those areas where the infrastructure and knowledge/skill of the workers have to be very diverse and high.
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Post by Sir John on May 19, 2013 0:46:32 GMT -5
The word "bubble" is the most flogged to death word in the English language.
To me, a 'bubble' is the Tokyo real estate market, the South Sea bubble, and the Tulip Mania. The US property market WAS a bubble, but is nowhere near it yet.
A 'bubble' is when EVERYBODY goes mad and buys, no matter what the price.
JMO
SJ
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Post by Swampy on May 19, 2013 2:55:36 GMT -5
A 'bubble' is when EVERYBODY goes mad and buys, no matter what the price. For once, we agree on economics. ;D |
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Post by jerryfmcompushaft on May 19, 2013 9:33:20 GMT -5
I wouldn't bet a whole lot on Detroit and the auto industry returning in any great resurgence, unless the influence of the labor unions is drastically reduced. Detroit and the US auto industry did not fail primarily because the product was inferior, but because they couldn't compete, pricewise, do to union demands. Unless Union influence is diminished, it will always hold the auto industry back.
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Post by boxcar on May 21, 2013 16:34:04 GMT -5
I quite agree. Boeing’s attempt to switch operations from Seattle to (was it North or South?) Carolina was another example of their desire to shed themselves of the union influence and labor charges.
And the NLRB, National Labor Relations Board, staffed with Obama appointed ex-union mafia, tried to stop production in the Carolinas.
I forget just how that came out. Could someone fill in here?
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Post by Swampy on May 21, 2013 22:12:20 GMT -5
As I said in a previous thread, Michigan has become a right-to-work state, which means it could be changing its sloppy ways. |
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