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Reply #6: Scary. Home building boom. [View All]

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swinney Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-21-04 12:18 PM
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6. Scary. Home building boom.
It is unreal here.

Expensive homes.

Moderate priced condos. Elderly selling homes (trying to sell) and moving into condos.

Problem. Cannot sell the old homes.

It is low interest rates with small down payments and long term payments. It scares me. Five years out. Takes two wage earners to tango. Wife gets pregnant and know some who will lose the home.

It will be nice for some time but watch out.
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