HURRAY FOR FALLING HOME PRICES!
HURRAY FOR FALLING HOME PRICES! David Brewster's great take on the recent news:
The lamentations about affordability are mostly just pious hand wringing, usually by people who are secretly pleased at how much their home values have been going up. Our local papers follow right along, boasting about how much better we do in keeping prices high than other cities.
Not only will it be good for the economy to deflate the housing bubble. It could be just what the doctor ordered for the affordability problem in Seattle, assuming we can get prices dropping faster. And we should be taking steps to see that there is a public benefit from foreclosures and dropping prices, not just an opportunity for bottom feeders.
I think that a sudden fall of the home prices causes just harm and it`s not beneficial even for those who want to buy quickly a house. I`m not saying that what is going on in Vancouver where the prices are always higher than in other cities is normal, it should be balanced in some way. However what concerns the Vancouver condos they are becoming more and more favourable for those who are buying thei first home and want to stay close to their workplaces.
Posted by: condos Vancouver | March 28, 2008 at 02:06 AM
I think that a sudden fall of the home prices causes just harm and it`s not beneficial even for those who want to buy quickly a house. I`m not saying that what is going on in Vancouver where the prices are always higher than in other cities is normal, it should be balanced in some way. However what concerns the Vancouver condos they are becoming more and more favourable for those who are buying thei first home and want to stay close to their workplaces.
Posted by: condos Vancouver | March 28, 2008 at 02:07 AM