Do we have a housing bubble?
Interesting read...
http://patrick.net/wp/?p=122#comments
though mostly focused on bay area. I am seeing lots of posting on craigslist.org too about reduced prices, but who know...
posted by Pramod Sharma at 11:28 AM
2 Comments:
The housing market sure has colled down but the bubble is not yet broken. There was another article that tells there are lots of small bubbles that can burst and in Bay Area the market is kind of leveling (its not dropping, mind it) and after some time it will again rise.
Karthik
As long as you are in the Bay Area or in the North East esp in and around Boston/NYC, I don't think you have to worry about real estate, esp if you are planning to buy a house/condo and stay there over the next few years. There might be some intermediate cooling down, as suggested by Karthik, but if your time horizon is going to be more than 5 years or so, buying a house/condo in these two "hot" areas should never be a problem.
Sriraj
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