Different Perspective on the Housing Bubble
Here's an interesting NY Times article that gives a new perspective on the apparently now-deflating housing "bubble." As argued by the author, high home prices do not provide the greatest benefit to the greatest number of people -- sort of a utilitarian perspective. I wonder about his claims that only 1 in 10 homeowners have mortgage debt equal to 90% or greater of their home value. Regardless, even if true, if you're that one in ten, you've got a lot to fear from the bubble deflation, particularly if you've got an ARM that will require increasingly larger payments.
posted by Anonymous @ 10:33 AM
2 comments
2 Comments:
In San Diego, our market hit its' high in the Summer of 2005!
Inventory has been increasing each month while sales have been going way down!
Lots of price reductions!
Sure, this is about San Diego, But, in my opinion will apply to all 'hot' real estate markets of the past five plus years!
For a good article on the 'rea'San Diego real estate market, visit:
http://www.downtown-san-diego-real-estate.com/san-diego-downtown-real-estate-article-1-29.htm
Many people from Southern California seem to be moving to the southeast. I have recently sold several pieces of property throughout the southeast to people from Southern Cal. It seems they can get twice the property at half the cost. I guess its all about perspective.
http://theonlinelawyer.blogspot.com/
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