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Supply and Demand

 

This ought to be fun... (via Drudge) Everybody loves a good horror story, and people tend to panic easily.

As houses are over-priced and in over-supply, what effect will this have? I wondered about the effect of affordable housing and global competition back in 2005:

Could it be that housing values, 10 years from now, will deflate in the pursuit to find more affordable housing due to global competition? If we have to compete globally, and we do, then expenses must be trimmed, so it makes sense. Here's a scenario: what happens if the California housing market crashes? What if it happens elsewhere in America? How does that change the retirement plans of boomers at the time that they start retiring?
Affordability matters.

The first article says this:

A Florida recession could be averted and the state housing industry's "serious problems" solved by an influx of American retirees and foreign buyers, said David Denslow, a University of Florida economist in Gainesville.

"The wave of baby boomer retirees is gathering momentum, and the weaker dollar makes Florida seem like a bargain to Europeans," Denslow said. "With any luck at all that will sustain us."

I'll be writing more about this later.

 


Tags: home mortgage
by Brett Rogers, 7/20/2007 12:39:55 PM
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