Signs you know the market is nearing a top...
...when people start investing in real estate in Mobile, Alabama.
"An incendiary mix of low interest rates, wealthy Baby Boomers and an American desire for ever-larger homes is heating home prices and sparking home building in the Grandview neighborhood that straddles U.S. 31. Within one-third mile of where Tapscott is working, the neighborhood has seven tear-down homes that will be replaced with larger, more costly homes as tear-down fever hits Vestavia Hills as it has in several other areas of metro Birmingham and spots in Montgomery and Mobile."
"An incendiary mix of low interest rates, wealthy Baby Boomers and an American desire for ever-larger homes is heating home prices and sparking home building in the Grandview neighborhood that straddles U.S. 31. Within one-third mile of where Tapscott is working, the neighborhood has seven tear-down homes that will be replaced with larger, more costly homes as tear-down fever hits Vestavia Hills as it has in several other areas of metro Birmingham and spots in Montgomery and Mobile."
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