Existing Housing Over the last year the real estate market has been hot, but it may be over-heating. Some experts feel that the present real estate environment is reminiscent of the period prior to the housing market meltdown of 2008, but not for the same reasons. There’s just a limited inventory in the existing market for homes valued at $500,000 or less. That’s the price range for most Americans. What’s left in that demographic is “fixer uppers.” As you enter the $500,000 to a million range, it’s a seller’s market. Homeowners are now calling the shots. Bidding wars have erupted between buyers. And if you haven’t secured your bank loan before offering a bid, you’re not a player from the seller’s point of view.  New Housing New construction is slowing. Not because there is no market but because there are not enough laborers. A labor shortage is slowing down new home builds for the average homeowner searching for new construction in the $300,000 to $500,000 sales range and there is no relief in sight. The politics of this could be explosive. Undocumented immigrants occupy millions of homes in America, but we need a greater labor force to continue to grow.   Read more…