The HooK has severa’l articles in this week’s issue. I have skimmed them and will have further commentary later. In the meantime -
A whole-house checkup checklist
Is Albemarle County to blame for growth/prices/etc?
Economist Dean Baker was so worried about a housing bubble that he sold his Washington, D.C., condominium– at three times the price he paid for it– and rented an apartment instead. Now, about two years later, he’s still waiting for the bubble to pop.
And lastly, this quote. No, we definitely don’t see any bubble bursting here, says Dave Phillips, Charlottesville Area Association of Realtors CEO.
It’s Econ 101: high demand, low supply. If your price range is $300,000, explains Phillips, there may be 10 houses in the entire market and 40 people looking.
