Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: SouthFloridaGuy who wrote (102543)	9/30/2009 11:05:02 AM
From: John Vosilla	Read Replies (1) of 116555

I think many close in land constrained overpriced hoods in the gateway cities that are in stronger hands without many exotic bubble option ARM's type loans go down slowly for several more years even as inflation takes off again and the cheap beaten down areas that make up most of the country now start appreciating again. Much higher rates are killers on $800k loans in your area but mean much less on a $100k loan in Atlanta where the improvements make up much of the value and the mortgage is a much smaller piece of the monthly cost of home ownership. Think the 1970's repeat. That wasn't necessarily a good time for NYC RE.. But the housing bubble price correction is pretty much over IMHO. Many areas overinflated in this country are down a good 50-80%..

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