Tuesday, April 22, 2008

Great Real Estate Post I Saw Earlier

"prices are going to rise due to supply and demand constraints and the weak dollar"

It is so beautiful until the alarm clock sounds. Supply has skyrocketed and home prices are falling with the dollar. Once the the elitists see inflation spreading to wages they will raise interest rates and save the dollar far faster than home prices will rebound. Renting savers (those bitter people) and house-wealthy owners (those who bought a long time ago and didn't fall for the ATM scam) will be rewarded with opportunities to put more cash down on cheaper homes, thus negating interest rate spikes.