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Pastimes : Is a Real Estate Downturn Coming?
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To: TheStockFairy who wrote (36)6/26/2001 4:23:57 PM
From: SouthFloridaGuy  Read Replies (1) of 91
 
Not sure how people are going to afford houses when they have no jobs regardless of the interest rate. The interest rate could be zero, it wouldn't matter. States to be hardest hit will be in the manufacturing heartland of the midwest and tech/finance service sectors of California and New York.

I would expect commodity rich states like Texas to be ok, although there is quite a bit of tech in the Austin area.

As far as interest rates, I would expect Greenspan to keep on cutting to 0 if he could. With prices as high as they have been, due to financing by leverage and credit, we should get ready for a major deflationary cycle.
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