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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (51853)	4/23/2004 1:18:32 PM
From: Libbyt	Read Replies (1) \| Respond to of 57110

..I'm curious to see how far the real estate market can go before topping out. IMO the residential real estate market won't start to top out until interest rates start to rise to much higher rates. Right now it is easier for more people to buy homes with the lower interest rates. ...that there is no inventory. People aren't selling. The same seems to be true here in the East Bay region. Houses that are correctly priced seem to sell fairly quickly, and usually with more than one offer. My cousin who I just visited in Peoria has a home that is worth probably $350,000 that if "placed" in the Bay Area would probably be over $2,000,000. They want to move back to the Bay Area later this year, even though they know they'll be in for major "sticker shock" when they buy a home here.