Quote:
Originally Posted by GregWeld
I don't think you understand the economy here. We NEVER had high unemployment -- nor do we have the foreclosure issues elsewhere in the country.
It's hard to look outside the box if you're not somewhere that is not having the same issues. Employment and job opportunities are what drive housing higher or lower. Think DETROIT.... low pay - not a lot of opportunity.... versus "Silcon Valley".... high job growth - high pay - high housing prices - maybe 1 or 2% unemployment. Ditto Seattle. If you're a housing framer - you suck... if you are in high tech sales or a software engineer or programmer - you have multiple job offers at 100+ K per year and all the benefits you want.
The government may be busy bailing out Louisiana - but they've got nothing to do around here.
|
So building and construction is not booming up there? I would think it would be if that economy is thriving....
I just get cautious when bidding wars happen on property.. it tends to start to snow ball into hype and overvaluation...