"'No Californians' stickers being slapped on For Sale signs in Portland"

"Portlanders apparently upset with the direction of the local housing market are slapping "no Californians" stickers on For Sale signs in the city, real estate agents say."

When one of realtor Lori Fenwick's buyers sent her a picture of one of the stickers, she took it to a real estate group on Facebook to see if any other agents had seen them around town.

Three other realtors replied they had. One of them was Quinn Irvine, of M Realty. Somebody plastered one of the stickers – showing a silhouette of California with a "No Smoking"-like red slash through it – on his sign outside a house on North Burrage Avenue.

"A lot of these homes are going into bidding wars and going over ask price," Irvine said. "And a lot of these guys are getting outbid. And I think they're going around to agents who have properties that have sold over ask price and putting anti-California stickers."

Bubble indicators

"In the Bay Area, the cash is coming from deep-pocketed tech workers. In New York, Wall Street workers, flush with bonus checks, and foreign buyers looking to park assets, are paying with cash. Meanwhile, South Americans have been buying up real estate in South Florida as a safe haven for their money. In February, more than 71% of sales in the Miami area were all-cash deals.

...As housing becomes more expensive some worrisome trends that occurred during the bubble years are re-emerging, said Stan Humphries, chief economist for Zillow. These include a greater reliance on non-traditional financing, like low-downpayment loans and adjustable-rate mortgages, and a greater pressure to move further away from urban job centers in order to find affordable housing."

CNNMoney
h/t Icepick
~~~~~~~~~~~~~~~~~~~~~~~~

Has anyone noticed indications of an inflating bubble?