Quote:
|
Originally Posted by sperbonzo
Not sure that I agree there Joe. There are certain big differences..... for one thing houses are real property, not just a cool concept, and everyone needs to live somewhere. It will flatten out, with a short dip when all the pre-construction condos all hit the market end of this year, and into next year, but houses aren't suddenly going to become worthless  |
Don't forget that a small dip or even a mere stagnation in growth in the value of property has a much larger effect on the economy as a whole than virtually any other area of business, because it directly and extremely strongly influences consumer trust and consumer spending.