LIVING OFF DIVIDENDS & PASSIVE INCOME

According to the Desert Times, Salt Lake City housing is likely to keep booming!

Plunging housing sales and sagging values may mean the end to one of the nation’s biggest housing booms, but Salt Lake City’s hot housing market will likely continue to show double-digit price gains for at least another year, according to industry experts.
The Commerce Department reported that U.S. home sales in July fell 22 percent compared to July 2005. And new-home prices decreased 1.7 percent in July compared to June.
“We’re going the other direction,” said James Wood, director of the University of Utah’s Bureau of Economic and Business Research. “We’ve had one year of really strong price increases. I think we have a ways to go. I think we have another year of double-digit growth.”
At 14.68 percent in the first quarter, Utah ranked 15th among all states in highest house-price appreciation rates, according to the U.S. Office of Federal Housing Enterprise Oversight. Second-quarter rankings are set to be released Tuesday.
However, while home values and sales in nearly all Wasatch Front communities are soaring, Utah’s real estate market is not immune from a national slowdown.
New construction in the state in the first seven months of 2006 is down about 1 percent compared to the same period in 2005. And in the greater Salt Lake region, finished unsold vacant home inventory, which includes single-family and multifamily units, rose to 1,492 units in the second quarter, a 29 percent increase from 1,156 units in the first quarter, according to Metrostudy, a Houston-based real estate research firm with offices in West Jordan.
A June report by National City Corp. revealed that 71 of 317 metro areas across the country were considered “extremely overvalued” in this year’s first quarter, having appreciation rates in excess of 34 percent.
St. George ranked among those areas considered extremely overvalued. The Salt Lake metro region, while considered overvalued by the report, only carried an 8 percent housing premium. Just 18 months ago, Salt Lake was considered one of the most undervalued real estate markets in the country.

• Flying to Salt Lake City Tomorrow Going to Salt Lake City tomorrow for the weekend. I have several investment properties out there and I've convinced some of my friends to buy there too. So we're going to hang out and make it a good tax-deductible trip! Ever since I read Robert Kiyosaki's Rich Dad series of......
• Housing Tracker Just found this great website called Housing Tracker.It lists some of the larger cities and shows the pricing/inventory trends for the past 6 months.I'm glad to know that inventory at my favorite city Salt Lake City, is down to 2,116 from 5,308 in 6 months. for a city with 900,000......
• Housing Update Seeking Alpha has a great summary of nearly all the current topics related to housing, mortgages and real estate.Some of the interesting articles are:Lacklustre housing marketManhattan… apartment prices unchanged from a year ago. Philadelphia, PA: Demand for residential mortgages was nearly flat… consumers were shifting from variable-rate home-equity lines to......

• 450 Random Useless Facts [/caption] Most American car horns honk in the key of F. The name Wendy was made up for the book "Peter Pan." Barbie''s full name is Barbara Millicent Roberts. Every time you lick a stamp, you consume 1/10 of a calorie. The average person falls asleep in seven minutes. Studies......
• Palm Pre Sets The New High Bar for Smartphones I've been playing with the Palm Pre for about a full day now and it is an impressive phone. In many ways, it is as if Palm is giving the single finger salute to Apple with a product by quite literally rubbing Apple's face in the things that should have......
• What TV show or movie that recently aired had a joke about The Lake House? All I remember is someone being like, admit that you love him (me?), and someone responded and was like yes I do love him but we're separated by time and can only communicate via a magic mail box at a lake house. (Or something to that effect). Maybe it was......

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