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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (1681)2/19/2002 8:52:33 PM
From: TradeliteRead Replies (2) of 306849
 
Mrs. Peel, about those speculators who drive up the price to excess.....it helps to keep reminding ourselves that real estate prices are whatever prices the buyers (no matter who they are--speculators, investors, or simply homeowners) are willing to pay. The only proof that prices are *excessive* is when prices decline.

If prices in my area are any indication of anything, it's that housing has been underpriced for quite a while, and is catching up. Prices might stabilize and not move anywhere for a while from here, but the buyers will decide that. Not you, not me....only the people with money and the desire to buy.

My frustration with some of the posts on this thread have to do with the phraseology which refers to overpriced, inflation, bubble, etc. Prices might not be any of those things....simply demand for an item that is in short supply.
The market decides these things, without us passing judgment on valuation.
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