British Artist builds a Plastic Bottle Island
Italy's High Home Ownership Rates
The Best Neighborhood in the US out of 10,000.
Portland – Vancouver Neighborhood values
Lessons from The Lily Pad
One Person's Trash is Another's Island Home
This is Price-Reduced.com where we talk a lot about real estate and a little about life.
The transcript provides links for you to go more in depth on the topics covered here.
There is only so much land on this earth so what other options do we have?
What shows up in the World News for real estate?
CNN has a great article about the rising prices and the strong real estate market in Europe
. Prices in Madrid have risen 10% and Dublin has seen nearly 12% increase in the first quarter. Another trend? Younger buyers are choosing smaller cities where they feel they can get a better quality of life.
One area where prices continue to be reduced is in the Countryside of Italy. Global Property Guide has an in depth article about what is happening in Italy’s Real Estate Market
. With interest rates as low as 1.92% earlier this year, wouldn’t you expect a housing boom? Learn what is holding back a boom from happening in various parts of Italy. Keep in mind the number of owner occupied households they have. Would you guess it to be 60%? 70%? Maybe 80%? If you have to guess. Guess on the high side.
Everyone strives for home ownership, right?
Kind of unusual that someone would choose not to be a home owner isn’t it?
Did you know there is the “Organisation for Economic Co-operation and Development” or OECD. It has a Better Life Index
where it focuses on housing
, education, jobs, and even life satisfaction across many countries of the world. Don’t visit this website unless you also want to learn about Work-Life Balance.
What is happening in the U.S. in the area of real estate?
Let’s look at the State of Florida.
Let’s go from the southeastern United States to the Northwest United States, the Portland Oregon Vancouver Washington Metro area.
Oregonlive has a great article about the 10 Portland-Vancouver neighborhoods where prices reduced
over the last year. To put it a little more accurately, the median price declined year to year for the second quarter. The area with the biggest drop? The 97202 zip code which includes the Sellwood, Moreland, and Richmond neighborhoods where the median price declined 10.2%.
That is a good reminder that no matter what city you live in, your homes value and amount of demand for it, can vary from neighborhood to neighborhood for the same size and quality of house.
There are variations of thought provoking stories about the lily pad.
If you had a pond with one lily pad in it and every day the number of lily pads doubled. At the end of 30 days the pond is completely full. The question is, how many days into the month are you when the pond is 1/2 full? As you might has guessed, the answer is not half way through the month which would be fifteen days.
The next question might be, if you were driving past that pond, on what day might you realize that the lily pads were there? Let’s say it is the 28th which is when the pond is 1/4th full. That leaves us plenty of time to correct the lily pad problem, right? After all, 75% of the pond is unaffected. However, 28 out of 30 days means about 93% of our month is gone, over. That leaves us just 7% of the month to take corrective action, even though only 25% of the pond is covered with a problem.
Maybe that is one reason why , whether in real estate or in life, it makes sense to solve problems when they are small.
Thank you for listening to Price-Reduced.com and always remember, financially speaking, “When it comes to real estate, the best time to buy or sell, is when you don’t have to.