Quote:
Originally Posted by LegendaryLars
During the last half of the 1980s, Boston home prices rose by 73 percent while incomes rose only 42 percent. A recession and attendant correction resulted in an 11 percent drop in home prices that did not recover fully for seven years. During the late 1980s and early 1990s, Los Angeles saw an 89 percent increase in home prices and a 37 percent increase in income. Soon afterward, defense-industry cutbacks precipitated a correction that reduced house values by 24 percent in L.A. over a five-year period. It took another four years to recover.
These bubbles were regional. During the same period, Minneapolis, Chicago, and other cities continued to experience uninterrupted increases in housing values.
anyway my prediction is in many areas vegas california florida arizona and the north east will suffer a 10-20% drop in price and it will take 5-10 years to recover that ammount !
|
even if it dropped that much you still made a shit load my house goes up 100k year About 35% in tampa on the water. btw always buy on the water
they keep saying the bubbles going to burst and LA still is rising it took a small dip for a few years but the amount it jumped was tremendous if you didn't panic you made out big.
I think we just have to many people on this planet and we keep multiplying
I think real estate is a safe bet if you cant sell when the market drops their will be plenty of renters