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Financial Is property going to drop?, General property price discussion
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Kain_Sicilian
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 Aug 12 2010, 07:35 PM
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QUOTE(RTFM69 @ Aug 12 2010, 02:53 PM) The forum need more Dr. Doom like onemorething, so there will be less competition. I disagree. There will be less competition, that's true, but if most people listen to "Dr. Doom", whose going to buy your overpriced properties? That's exactly when the bubble will burst. When demands for overpriced property is no longer there. Those who take huge loans to purchase these properties and can't cope up will dies 1st. Of course, those with deep pockets is another story... |
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Kain_Sicilian
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Sep 7 2010, 08:30 PM
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QUOTE(Onemorething @ Sep 7 2010, 02:41 PM) Like Said, it's all about affordability and emotions! When the market turns negative, which is clearly going to happen here, the correction will take place. Listings are now way up and pricing being reduced daily in the high end market I'm following. Remember when you ask yourself what your property is worth, the answer is what a buyer is willing to pay. When prices start to slide matched with tighter lending practices and potentially higher interest rates, RE only goes one way. And buyers, well....they sit and wait for another price reduction. Note though those ideal (well located properties) will go first, usually 5-10% before the bottom. Suggest you convince yourself to buy in before this time to secure them. In the end it boils down to technical and fundemental... |
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