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Politics : Politics for Pros- moderated
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To: John Carragher who wrote (109168)4/14/2005 9:15:39 AM
From: michael97123  Read Replies (1) of 793955
 
Many young folks were encouraged to flip by low rates (particularly arms) and a fast appreciating market. They treated it like some of us treated the stock market in the 90s. It is getting harder to do now and because there is no housing exchange, commissions are so high and short term rates have risen, there is danger of being trapped in an illiquid market with falling prices and rising rates all at the same time. This is one bubble none of us want and hopefully yesterdays market action indicates rates will not rise much further so at worst prices will just remain flat or slight down rather than bust. Mike
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