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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Spekulatius who wrote (6497)11/1/2002 10:23:57 PM
From: fattyRead Replies (1) of 306849
 
>With respect to RE - one scenario that nobody has taken into account would be that record low interest rates continue to fuel RE even of the economy deteriorates further.

If interest rate goes down, the seller will adjust the price
up so that you will always pay the same monthly mortgage. But the increased price demands a higher downpayment so it is even more unaffordable.

In case of Boston, I think the real estate market is heading toward a crash because next spring comes along, there won't be any buyers as the economy is not projected to show any growth until 2004.

I visited a friend last week who lives in a rather upscale townhouse community. Later I found out that 20% of the nearly 100 units are for sale, with average listing time of nearly 2 months.
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