The Real Estate Market
As a consumer who hopes to someday purchase his own home (I'm hard pressed here in pricey Sacramento, Ca.), I've watched the housing market with a great deal of trepidation. I see a big collapse of the market in the near future, especially with the increasing popularity of "interest-only" loans and "fixed for 2 years, then variable rate" loans. I know several people who have bought homes recently that they barely
can afford with such loans, on the premise that in two years they'll sell the house and purchase a new one with the money they make from the sale.
at the Volokh Conspiracy is seeing similar disasters-in-the-making in North Virginia. I wonder if this is going on (in different degrees) throughout the rest of the country? Is this the next "bubble"?
POSTED BY THE GENERAL AT 1:07 AM