Chinese billionaire Wang Jianlin made his fortune in the country’s real estate market — and now he’s warning that it’s spiraling out of control.
It’s the “biggest bubble in history,” he told CNNMoney in an exclusive interview Wednesday. Bubble is a sensitive word in China after the dramatic rise and spectacular crash in the country’s stock market last year, which wiped out the savings of millions of small investors who thought Beijing wouldn’t allow the market to drop. After struggling to contain the fallout from the stock market debacle, China’s leaders could face a similar headache in the real estate sector. READ MORE HERE—>
Two words alone have, rightly, loomed large in discussions about California’s housing market this year: inventory and affordability. A tight supply of homes available for sale has helped to keep strong upward pressure on home prices, which in turn has caused further deterioration of affordability in the state. As housing becomes more expensive, and the cost of living between expensive central areas and outlying counties expands, people begin to make decisions on the trade-offs between living farther out (and in larger houses) and commuting longer to their jobs. For your next purchase or rental who’s got your back? Subscribe and/or Follow me on Twitter for strategies to navigate the housing market!
June, July and August are considered peak sales months for real estate so it is a surprise that sales cooled in July of this year. As VERY strong demand in rentals persists, this might be an early sign of buying demand weakening by California house consumers.
California real estate moves higher in June. Is the economy getting stronger or is lending getting easier?
Take a look! Home pricing is getting MORE expensive! The median price of a home has now reached over $500K statewide! What is driving the growth in pricing? Take a closer look! Sales of single family homes DECREASED from last year and the previous year! From my conversations more homeowners are staying put, making housing more scarce and driving prices of existing homes higher. Many homeowners are taking advantage of lower property taxes by holding onto what real estate they have instead up trading up or down. Questions? Email me for more assistance on how to buy or sell a home in this market!