Across The US, Housing Prices Are A Crisis
If the number of articles addressing it is any indication, the house price crisis is becoming a mainstream issue. Tennessee, "Roughly 18,782 households moved to Davidson and seven surrounding Midstate counties in 2003. Of those about one-fourth moved from Florida, California and the Northeast."
"It's difficult to assess what impact buyers from high-priced areas are having on the local housing market..it would likely raise local property values. 'It keeps prices higher, because they see the houses here as so cheap,' Charles said. 'People are more willing to pay full price, or even offer 102% or 103% of a selling price just to get a deal done.'"
Virginia, "'They've been saying for the last three or four years that this has got to cool off, but nobody has seen it cool off yet,' he said. Tricord's Jones describes that turn of events as a 'crisis' for Spotsylvania."
Auburn, CA, "Workers like firefighters, law enforcement personnel, nurses and teachers who make up the backbone of any community will also be forced to seek more affordable areas in which to live. 'There will be difficulty in obtaining an employee base in all salary ranges,' Auburn City Manager Bob Richardson said."
Baltimore, "Though the booming housing market is good for builders and real estate agents, county employees such as teachers, police offices and firefighters say they cannot find affordable houses." It's not just government employees that are struggling in the housing bubble.