4 ms·
A real estate bubble burst, which we already went through just recently, doesn't affect current homeowners. It only affects those who need to sell at that momen
by buckbova 13y ago
A real estate bubble burst, which we already went through just recently, doesn't affect current homeowners. It only affects those who need to sell at that moment and have been a homeowner for a short while.
I am betting my home will be worth well more than it's worth right now in 3 to 5 years. But, I'm in a coastal city where homes are always in demand.
- yardie 13y agoI grew up in a coastal city (Miami) and watched prices climb 100k, then bolted to 500k-600k before settling back into 100k-200k again. Houses were always in demand but prices were constrained by average salary (35k avg) until investors got involved and banks took the constraints off mortgage requirements. I watched a friend put her college graduation money as down payment on a 4 bedroom house and struggle (she couldn't afford to go out, couldn't even afford to eat meat) for a few years all in the vain belief that it was an investment. She aged about 10 years in that period time.