Sunday, April 10, 2005

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."