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Real Estate
Reply to "Is there another "housing bubble"?"
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[quote=Anonymous]Prices being historically high, and overdue for a correction, is not a "bubble". In 2006 prices were unsustainable, since many were made based on loans with weird terms, low intro rates, which counted on appreciation to avoid foreclosure. Prices were also very high relative to rents, due to buyer's panic. It was easy for the appreciation to reverse hard, very quickly. Prices seem high now - in many places they are high relative to incomes. But they are not that high relative to rents, nor are the loans unsustainable. Prices could come down, but it won't be a "bubble popping"[/quote]
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