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Yes and I'm not denying that. Also the midwest hasn't seen radical overvaluation of property that the coastal areas do. Since demand is so high there, the value
by earlINmeyerkeg 7y ago
Yes and I'm not denying that. Also the midwest hasn't seen radical overvaluation of property that the coastal areas do. Since demand is so high there, the value of the property is not determined upon is "worth," but on someones ability to pay. You can see how that becomes a major issue when things crash. Suddenly many people lose out on the value of the place they paid for.
- danans 7y ago> Since demand is so high there, the value of the property is not determined upon is "worth," but on someones ability to pay. The monetary value of the something is by definition what the highest bidder is willing to pay for it. How would you determine it otherwise?