- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
Am I reading that to mean so long as you can make the payments even if overpriced they have to hang on (i.e.-upside down stops sales?) Didn't Japan experience that? flat prices. low sales. stagflation? 15 years in the doldrums.
Liquidity in lending is a necessity to prevent a panic. Nevertheless that is not necessarily a "slow" hiss of the bubble.
the factors I see as relevant are the triple whammy. High energy (utility) cost, higher mortgage cost, and higher property taxes as reassessment in the past few years drives assessed prices skyward. Deflating prices will hurt government services, prevent people with low interest loans from refi'ing, blame oil companies etc.
Liquidity in lending is a necessity to prevent a panic. Nevertheless that is not necessarily a "slow" hiss of the bubble.
the factors I see as relevant are the triple whammy. High energy (utility) cost, higher mortgage cost, and higher property taxes as reassessment in the past few years drives assessed prices skyward. Deflating prices will hurt government services, prevent people with low interest loans from refi'ing, blame oil companies etc.