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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (1679)2/19/2002 8:37:47 PM
From: MulhollandDriveRead Replies (2) of 306849
 
but the point you are missing is if those "investors" (speculators) have driven up the price to excess whereby the "real market" of first time homeowners is priced out...then I think you can make the argument that *particular* market has become inflated and eventually will drive buyers to other areas. This is exactly what happened in Silicon Valley at the height of the tech bubble and now those inflated homes are deflating. Once the ready supply of buyers flush with "funny money" (stock options) disappeared, the housing market began reversing. I'm not saying all housing is like this, but you certainly do so at your peril to ignore the ramifications of what happens to buyers "at the top" with the faulty notion that real estate always 'goes up'.
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