When blows out the "Condominium-bubble" in the area of Cabarete ?

[aegap]

There's a perfect explenation for it: home builders got tired of sitting on their "inventory" so they lowered priced, which created a larger demand- hence the higher number sold. It's most likely artificial, and the numbers in the coming months will probably confirm that.

It ain't really a 'crisis' though. It probably can be explained by the Feds taking out and/or reducing the encentives they put into the market at the begining of the Bush administration. They are doing so because they like how the overall economy is doing. If and when they feel things may badly go south they'll put them back in.

[batich]

Originally Posted by globalmike295

With all due respect it is not strange at all but perhaps worded incorrectly as statistics are a tad misleading

The articale I read was that for the month of April there was a record number of houses sold for that month , however at a lower price which is 11% lower than last year for the same of April.

The Median
The Median is the 'middle value' in your list. When the totals of the list are odd, the median is the middle entry in the list after sorting the list into increasing order. When the totals of the list are even, the median is equal to the sum of the two middle (after sorting the list into increasing order) numbers divided by two. Thus, remember to line up your values, the middle number is the median! Be sure to remember the odd and even rule.

That is the definition of Median

THank you for the great professional explanation!

Now at least I know that $380 - 500G US for a house in Sosua /Cabarete area without no infrastructure, nor security nor reliable electricity nor medical or fire or police imergency is a very cheap price.


I have another question as soon as you are so much related to RE/building profession. All local houses are built with practically pure concrete. Are there in existence in DR any norms regarding asbestos content in this building material? And are they enforced?

! Gracias!

[globalmike295]

Originally Posted by batich

THank you for the great professional explanation!

Now at least I know that $380 - 500G US for a house in Sosua /Cabarete area without no infrastructure, nor security nor reliable electricity nor medical or fire or police imergency is a very cheap price.


I have another question as soon as you are so much related to RE/building profession. All local houses are built with practically pure concrete. Are there in existence in DR any norms regarding asbestos content in this building material? And are they enforced?

! Gracias!

I am not a GC but Asbestos abatement has been under way for many years, in the U.S. It is a carcinogen and should not be used.

If you are trying to say the Real Estate is overpriced, I would concur and since this thread is about weather the bubble is about to burst, I welcome the next caller......the lines are open !

We have Mabelle on the line.......

[PabloPaul]

I love how you guys talk about this like we're in the US. That's exactly why the RE prices are so sadly and ridiculously overpriced.... you drove them up on US values, standards, pricing, hell you even didn't trust the country's own paper and sold in US dollars too. One problem. This NOT the USA.
Therein lies the dilemma.

[globalmike295]

Originally Posted by PabloPaul

I love how you guys talk about this like we're in the US. That's exactly why the RE prices are so sadly and ridiculously overpriced.... you drove them up on US values, standards, pricing, hell you even didn't trust the country's own paper and sold in US dollars too. One problem. This NOT the USA.
Therein lies the dilemma.

I agree 100%

Everyone has opinions and I was just trying to address a few.

[johne]

Originally Posted by globalmike295

With all due respect it is not strange at all but perhaps worded incorrectly as statistics are a tad misleading

The articale I read was that for the month of April there was a record number of houses sold for that month , however at a lower price which is 11% lower than last year for the same of April.

The Median
The Median is the 'middle value' in your list. When the totals of the list are odd, the median is the middle entry in the list after sorting the list into increasing order. When the totals of the list are even, the median is equal to the sum of the two middle (after sorting the list into increasing order) numbers divided by two. Thus, remember to line up your values, the middle number is the median! Be sure to remember the odd and even rule.

That is the definition of Median

Not worded incorrectly at all/ Sales up 16 %. Prices down 11%. Read the same data. Moving that stuff down the road rapido! BTW-I believe that was NEW Home sales.
john

[Lambada]

Originally Posted by PabloPaul

I love how you guys talk about this like we're in the US. That's exactly why the RE prices are so sadly and ridiculously overpriced.... you drove them up on US values, standards, pricing, hell you even didn't trust the country's own paper and sold in US dollars too. One problem. This NOT the USA.
Therein lies the dilemma.

Mabelle here...........
You think it's a dilemma PabloPaul? You see, I simply wouldn't pay those sort of prices and certainly not to live near a whole lot of other foreigners. But I've been here 15 years & I don't think in UK prices any more, I think in DR prices and DR options. There are always suckers who think they're getting a steal. But people won't be told, so............what can you do? If they think they're getting a bargain, I suppose that keeps them happy........and possibly delusional.

[PabloPaul]

Not everyone is so smart. Let's forget about the part where retirees will be soon flooding and inflating the market even more. Good luck, Dominicans...
getting priced even more out of their OWN country.

[aegap]

The prices of properties in Guachupita, as well as water front and water view properties in La Cienaga will be just fine, thankyouverymuch.

[financial analyst]

The National Association of Realtors (NAR) expect a decline of selling new houses in US in 2007 of 18,2%. Lawrence Yun, chiefeconomist of the NAR said the short view of the market is desolate.