Posted November 10, 2017 07:23:16It’s hard to overstate just how bad things have been for people looking to buy homes in Exeter, New Hampshire.
This town is experiencing a real-estate bubble that’s threatening to crush everything around it.
The real estate market has been booming since the summer, with home prices soaring from $1.8 million in September 2017 to $1 million today, according to data compiled by the New Hampshire Real Estate Board.
In the last two weeks, a record number of buyers have signed up for homes in the town.
It’s a story that has echoes of the dot-com bubble, which crashed in 2008, followed by the housing crash of 2008-2009.
New Hampshire has been experiencing a housing bubble since the middle of last year, but the bubble has been a far more dangerous one than the dotcom bubble.
The bubble started to burst in June, with new listings rising over 300 percent in July alone.
That’s when the town announced a moratorium on new housing in the area.
While that announcement wasn’t as drastic as the moratorium in Existon, the move has created a new round of uncertainty in Exett that has already been felt by the town’s residents.
I think we’re going to be living through a housing crash, Exeter Mayor David Pate told the Boston Globe.
“I think you’re going see some people getting really nervous,” said Pate.
A real estate boom is one thing.
But a housing collapse is something entirely different.
This is the exact opposite of the boom and bust cycles that are so familiar to us.
In the real estate bubble, the bubble burst and then the housing market bounced back.
There’s been a bubble in the market right now, but in the housing bubble, it was a bubble that lasted only a year, not two years.
And the housing boom was temporary, lasting just a few months, before the bubble imploded and then everything went south.
The bubble burst, and the housing collapse followed.
In Exeter’s case, the bubbles have lasted only two years, but there have been many more that have lasted longer.
For example, in the mid-2000s, a record number of homebuyers signed up for homes in town.
That number rose by almost 30 percent in just two years to more than 10,000 homes.
That amount of new homes was so large that, according to the Exeter Daily News, it took six months for sales to stabilize.
That kind of rapid increase in homebuyers tended to lead to a big increase in demand for housing, but demand also tend to take a back seat to supply.
In the early 2000s, it looked like Exeter was heading for a housing bust.
In fact, the town had just sold more than a dozen homes in less than a month, according the Daily News.
But the bubble quickly burst and prices crashed.
And that’s when demand for houses went from zero to almost no.
By the end of 2016, Exeter had just purchased three homes, and it’s not likely the town will ever sell again.
The current housing bubble is a far cry from the bubble that crashed in 2007.
As the New York Times pointed out in March, the housing bust had its roots in the dot com bubble.
The dot com burst took place in the summer of 2007.
It wasn’t until October, 2009, that home prices reached their peak.
And prices continued to rise until the bubble burst in late 2012.
Since then, home prices have only dropped slightly, but not nearly enough to restore the market to the pre-bubble level.
It’s the exact same story here in Exitt.
A recent report from the realtor.com website found that New Hampshire had the second-highest vacancy rate in the country, with a vacancy rate of just 2.5 percent.
So when home prices in Exit skyrocketed in June, it created a glut of homes in towns that were in the midst of an explosive homebuilding boom.
Some of the buyers were young professionals looking to move out of their hometowns and into the city.
Other buyers were retirees, who were buying their first homes.
These buyers were looking to spend their money in Exits own backyard, and many had no intention of moving out of the town in the next year or two.
All this trying to fill up a home market that has been saturated with empty homes for so long has created an excess supply of homes.
So what can you do?
While New Hampshire has seen a real estate crash in recent years, the real world is a different story.
Real estate has always been a major