http://paloaltoonline.com/square/print/index.php?i=3&d=&t=20972


Town Square

Hang on, it's a bumpy ride

Original post made on May 29, 2013

It's starting to look a lot like 2005.

Read the full story here Web Link posted Friday, April 12, 2013, 3:55 PM

Comments

Posted by Chris Zaharias, a resident of Crescent Park
on May 29, 2013 at 11:02 am

This photo sums up both the PA/MP real estate market and the way most PA/MP real estate brokers are operating right now.

Web Link

Can someone point me to the thesaurus real estate brokers use to dress up dumps with literal lipstick?

I'm happily renting in PA, investing in the meantime and will only pounce if/when reality strikes the PA market. That reality check will come from one or more of the following:

1) Rise in property tax %. With $1-4M homes, 0.25-1.0% increase could make *lots* of people sell;
2) Stock market crash;
3) Rise in interest rates;
4) Softening of Chinese economy

NOTE: one of my previous posts mocking the bubble-esque PA/MP real estate market was removed, perhaps because this paper/site depends so thoroughly on brokers for their revenues.