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real estate bubble?
Posted: Thu, Mar 31 2005, 9:05 pm EST
Post subject: What Happens if It Bursts?
What Happens if It Bursts?
AT cocktail parties these days, the chatter often involves a bit of bragging about real estate profits before it winds down to those famous last words: "The market might go down, but my area will maintain its value."
It's as if people think that an electromagnetic field of protection will shield a particular series of brownstones or cul-de-sacs from whatever might befall the market at large because of higher mortgage rates, mortgage defaults or an oversupply wrought by downsizing baby boomers.
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