How low will real estate go?

For all the heavy breathing about this so called "bubble" it is localized to the northeast, Fla, Arizona and California in great part. Many parts of the country are not at all affected. I have a relative in the Carolinas (north)in R.E, and he has seen no change at all. There the average appreciation in home values has kept to about 4% and the fact there is so much construction going on has kept prices down. Similar stories can be found all over GA, Tennessee, Ark and throughout the Southern and Gulf States except in some pockets.

I am confident that with the Fed about to commence lowering rates by the middle of the 1st quarter next year, this hysteria over the "bust in R.E." will end like the similar hysteria over the millennium bug that was supposed to cause every computer in the world to crash and kill us all at 12:00:00AM January 1st, 2000.

There is simply no "there" there. The whole thing is a media created frenzy aimed at crashing the economy in an election year.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.