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Strategies & Market Trends : Strictly: Drilling II
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To: Davy Crockett who wrote (14955)6/30/2002 11:02:37 PM
From: Little Joe  Read Replies (2) of 36161
 
Well I have a couple of comments on your reply. First and foremost, I am not suggesting that housing prices will not go down. I am questioning whether this is a bubble, which to me means grossly inflated prices followed a huge drop.

Second comment relates to your view that higher interest rates equate to lower home prices. "Always have & always will... (in the short to intermediate term". If you will recall we had very high interest rates in the late 60's early 70's and we had rapidly rising housing prices.

My view is that housing bubbles more often than not occur locally and not nationally. I have been a home owner for more than 30 years but the value of my home seldom dropped and only a few years in small amounts. I do not forsee the value dropping in the coming inflation. I do however think that some parts of the country are experiencing a local bubble, which will be followed by lower prices. I just don't think that overall we are talking any serious drops in housing values.

Little joe
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