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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (6847)	8/7/2001 11:47:34 AM
From: GraceZ	Respond to of 74559

But this is the type of thing that makes me skeptical of the "real estate bubble." Real estate prices are so specific to area. You can have areas where the demand continues to out-strip supply far longer than anyone imagines. Low mortgage rates usually help to boost prices in areas where prices have previously been depressed. In Baltimore City it's neighborhood specific. You can buy a row house for 30k and it might only be ten blocks away from a house selling for close to a million but happens to be in one of the most desired neighborhoods. Rural real estate had been depressed for a long time. I think the stat that sticks out in my mind is that 80% of the population in the US lives within 300 miles of either coast.