An interesting term used to describe a (total collapse). What we have in the Real Estate Market today is far from a
total collapse. In todays market we have an adjustment on over inflated pricing going on , which with any economic
boom, which is what we had, the key word being had, we have to be aware there has always been a downturn at one
point. When the price of housing far surpasses the average income making it impossible to own or maintain
ownership, then supply far exceeds demand ,causing inevitable depreciation in home prices . Some people
believe there is a mysticle bubble which will burst at anytime making it possible to buy homes for pennies on
the dollar, that leeds us back to supply and demand, which will always prevent that from happening along with
economic upturn. The bubble lost some air, but be aware will soon be inflated again in the not to distant future.
Best of wishes!! Bill
Comments(0)