Getting housed.
August 26th, 2007 at 10:07 am (Housing)
Housing price increases aren’t just happening here…
The recent re-pricing of risk in US debt markets is going to make that graph look very ugly in the USA as prices are going to fall dramatically over the next few years.
This has me thinking about the valuations of Bermuda real estate and the relevant factors and trends influencing them (immigration, wages, financing standards, building cost, land availability, red tape, rental yields, interest rates, etc.) Any housing/development policy that fails to account for all of those factors will fail or at best be non-optimal.
Denis Pitcher said,
August 28, 2007 at 12:32 pm
Amazing chart, havn’t seen that one.
Questions to add are what impact do zero-down mortgages have on the overall market and have local banks been part of the cause of the boom?
Down said,
September 8, 2007 at 7:17 pm
Are you serious, that you have never considered the fragility of bermuda’s relatively immature (in more ways than one) housing market?
Given the attitude to “spend today” in bermuda’s nouveau-riche – woops let’s ammend that to nouveau-access-to-credit, Bermuda’s lower income homeowners are not quite managing their debt levels shall we say.
Anyone done an impact assessment of +2% on base rate?
Trust me it would rattle through the island.
Would government step in? should they? would they? could they?
Someone should get this issue high on the Bermuda Agenda – or is a photo-op with Tiger more important?