The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (4572)	8/20/2002 9:47:08 PM
From: Tradelite	Read Replies (3) of 306849

A very well-reasoned and probably valid argument, Patron. The differences I see in my own area of the country are-- (1) this so-called bubble thing (multiple offers on homes, rising prices) started long before Greenie cut interest rates, and (2) the shortage of available homes for people who want and need them has become a very real phenomenon brought on by different factors, such as a shortage of buildable land, population growth, and restrictions and fees imposed on building by local authorities. Therefore, if the credit-crazy borrowers go bankrupt and vacate some homes for others to buy, it will be a blessing, even if the new owners have to pay a higher interest rate to get them. Equilibrium would then return to the market--and only the greedy morons who lived beyond their means will get hurt.

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