Nashville metro bubble

[NEO]

Ok, this is an opinion thread for metro Nashville folks.

Here’s my question without a poll...

Do you think we are already on a bubble or will home prices keep going up?

If they are going to keep going up for how much longer and high much higher?

Do you think they will eventually reset and if so at the price today or at a lower or higher price?

I was raised here and then lived in Columbus oh for about 14 years before moving back in 2010. Columbus used to be about twice the price there as it was here per sq. After the crash, they still haven’t come back and now we are about 35 percent higher than them and gaining.

I personally think we keep going up another 50 percent over the next 5 to seven years but then dip back to about current rates or slightly above current. I could be wrong those as my realtor friends think we are the next Seattle 2.0 and our pr sq ft is about to get insane due to lack of land close to downtown.

What are your thoughts?

 

[davethevol]

Ok, this is an opinion thread for metro Nashville folks.

Here’s my question without a poll...

Do you think we are already on a bubble or will home prices keep going up?

If they are going to keep going up for how much longer and high much higher?

Do you think they will eventually reset and if so at the price today or at a lower or higher price?

I was raised here and then lived in Columbus oh for about 14 years before moving back in 2010. Columbus used to be about twice the price there as it was here per sq. After the crash, they still haven’t come back and now we are about 35 percent higher than them and gaining.

I personally think we keep going up another 50 percent over the next 5 to seven years but then dip back to about current rates or slightly above current. I could be wrong those as my realtor friends think we are the next Seattle 2.0 and our pr sq ft is about to get insane due to lack of land close to downtown.

What are your thoughts?

TN as a whole has insane housing prices now due to the demand from the influx of Yankees. They’re going to mess up this state just like they’ve done up north.

 

[volfanjustin]

Seems Nashville as already flattened out some, surrounding areas though like Mt Juliet, Franklin, Brentwood and Murfreesboro are booming

 

[theFallGuy]

Ok, this is an opinion thread for metro Nashville folks.

Here’s my question without a poll...

Do you think we are already on a bubble or will home prices keep going up?

If they are going to keep going up for how much longer and high much higher?

Do you think they will eventually reset and if so at the price today or at a lower or higher price?

I was raised here and then lived in Columbus oh for about 14 years before moving back in 2010. Columbus used to be about twice the price there as it was here per sq. After the crash, they still haven’t come back and now we are about 35 percent higher than them and gaining.

I personally think we keep going up another 50 percent over the next 5 to seven years but then dip back to about current rates or slightly above current. I could be wrong those as my realtor friends think we are the next Seattle 2.0 and our pr sq ft is about to get insane due to lack of land close to downtown.

What are your thoughts?

F Nashville

-signed Memphis

 

[Rasputin_Vol]

Ok, this is an opinion thread for metro Nashville folks.

Here’s my question without a poll...

Do you think we are already on a bubble or will home prices keep going up?

If they are going to keep going up for how much longer and high much higher?

Do you think they will eventually reset and if so at the price today or at a lower or higher price?

All bubbles burst. Prices will come down.

The last financial crash was 10 years ago, seems like we are overdue for another crash. I would say give it another 18-24 months, likely driven by who is elected in 2020.

 

[Hunerwadel]

TN as a whole has insane housing prices now due to the demand from the influx of Yankees. They’re going to mess up this state just like they’ve done up north.

I thought the Mexicans were going to mess it up.

 

[volfanhill]

I thought the Mexicans were going to mess it up.

Mexicans from New York are the real threat

 

[volfanjustin]

I thought the Mexicans were going to mess it up.

They have certain parts, go drive through Antioch or Jackson Ave/Summer Ave areas in Memphis.

 

[davethevol]

I thought the Mexicans were going to mess it up.

I’d rather have the Mexicans than the Yankees.

 

[Rasputin_Vol]

I thought the Mexicans were going to mess it up.

We are getting crushed from Northerners and Southerners.

 

[Rasputin_Vol]

I’d rather have the Mexicans than the Yankees.

I've been saying that for a while.

 

[hog88]

Nashville and surrounding counties weren't crushed in 2008/9 like many parts of the country so when the bubble does pop I don't think it will hit the Nashville area very hard. What's going to drive house prices down in the Nashville are is when the baby boomers start dying off in-mass.

 

[NEO]

Nashville and surrounding counties weren't crushed in 2008/9 like many parts of the country so when the bubble does pop I don't think it will hit the Nashville area very hard. What's going to drive house prices down in the Nashville are is when the baby boomers start dying off in-mass.

I tend to agree with this view regarding the bubble. We were not hit nearly as hard as parts in the north and don’t think we will be hit in the future as hard either.

 

[Rasputin_Vol]

Nashville and surrounding counties weren't crushed in 2008/9 like many parts of the country so when the bubble does pop I don't think it will hit the Nashville area very hard. What's going to drive house prices down in the Nashville are is when the baby boomers start dying off in-mass.

That demographic apocalypse may dodge Nashville with the influx of younger people to the area.
My gamble is that you would see that hit Orlando/Central Florida pretty hard. Maybe Phoenix also.

 

[NEO]

F Nashville

-signed Memphis

Mmmm.

Shelby county.

Safe, beautiful, and rapidly growing.....all things that no one ever hears when Memphis is mentioned.

 

[Fun coupon VOL]

Nashville has slowed down some. There is an ever growing balance between apartment dwellers and first time home buyers.

I’m undecided on the price of homes in the area. Downtown Nashville is going to be so crowded in the next 3 years with the billion dollar project that includes amazon.

If I was going to invest in commercial property, I would drop everything I had into industrial buildings close to downtown.

 

[NEO]

Nashville has slowed down some. There is an ever growing balance between apartment dwellers and first time home buyers.

I’m undecided on the price of homes in the area. Downtown Nashville is going to be so crowded in the next 3 years with the billion dollar project that includes amazon.

If I was going to invest in commercial property, I would drop everything I had into industrial buildings close to downtown.

Nashville may be slowing down (which I think it isn’t and disagree with the date of 65 to 75 now per day total metro) but the surrounding countries are actually picking up steam.

 

[marcusluvsvols]

I’d rather have the Mexicans than the Yankees.

Hands down and twice on Sunday. Yankees who invade en masse, along with California dwellers headed east, drive up housing prices VERY fast because they think nothing of offering over asking price and paying all closing costs etc. This is because they just sold their 600k CONDO with 2 beds and 1 bath...and down here 500k gets you a McMansion on an acre lot if you arent on a lake somewhere. That extra 10k means nothing to them because they have amassed equity in their former house at the same rates as here for the most part...but a 20% increase in a 600k house is a whole lot more money than a 20% increase in an 150k house. If they are coming from Seattle, NYC, or some parts of Cali...their equity from their last house is usually enough to buy a house outright here in many cases. Ouch to those folks who have lived here all of their lives and offer a grand or 2 below asking which used to be the norm. On our area right outside Charlotte proper, my wife is a real estate agent and houses in many areas are under contract within 24 to 48 hours after being listed...and can have dozens of offers ABOVE asking price as soon as they are listed. It is insane, but it looks like until we see a recession, demand is much greater than supply of single family homes here just like it is in Nashville. I dont know that there is really a bubble...as long as people can repay their mortgages. ..but values of homes have risen 20 to 30% just in the last couple 3 years.

 

[imw8n4u]

I live in Mt. Juliet. It's insane (to me) what houses are selling for here. Fortunately I'm neither buying nor selling, but I fear it's going to get too hot and a sudden correction will leave a lot of people under water on their mortgage. I can't understand why people can't see all the warning signs, seems obvious to me this is unsustainable.

 

[Fun coupon VOL]

Nashville may be slowing down (which I think it isn’t and disagree with the date of 65 to 75 now per day total metro) but the surrounding countries are actually picking up steam.

Homebuilding slowed down 15.5%(Nashville MSA) year over year based on Q2 from 2018 to 2019.

It looks like lot inventory is the issue, as I believe Nashville is at or right at historically low levels of lot inventory. Edit. (This is wrong)

Apartments might be a safe bet.

 

[happy-go_vol]

TN as a whole has insane housing prices now due to the demand from the influx of Yankees. They’re going to mess up this state just like they’ve done up north.

Theyll vote the same way as they did up north.