Some has claimed that the housing bubble is hyped and that not much has happened. They are not concerned about falling prices as there will be a soft landing.The housing bubble snowball has just started to roll. The snowball in the picture may look small and unthreatening, but it is just starting out. Wait, it will grow bigger, become faster and have more force.
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In my opiniom, not every market will "crash". The ones that have skyrocketed the fastest on speculation will suffer the greatest "correction".
ReplyDeleteI did not mean to imply that 'every market' will crash.
ReplyDeleteThe analogy is simply that the housing bubble is like a snoball going downhill becoming bigger, faster and more powerful.
well detroil will fall the least amongst metros..
ReplyDeleteMaybe, maybe not about people moving out of Baltimore. Prices low enough to make people sit up and take notice probably won't arrive til 2007 sometime. In the meantime, people are building new lives.
ReplyDeleteAlso, keep in mind how much further money in Baltimore goes. Bolton Hill, Charles Village, Federal Hill -- even after a bubble, you'd still be paying a hefty premium to get the same amount of space and land in D.C. Something a parent pointed out to me was "since we don't have to spend on much on housing, we can enroll the kid in better private schools".
Maybe the people who found Baltimore distasteful will move back. Still, Baltimore has its charm. Yes, it's a more dangerous city than D.C. but it happens in pockets, again like D.C.