Friday, January 21, 2005

Oops, Maybe Not a Bubble Everywhere

by Osman Parvez


Looks like the New York Times is finally catching on. No Virginia, it's not a bubble everywhere! If you don't happen to live in Boston, New York, Washington DC, or anywhere along the California coastline it may actually be cheaper to buy a home now than twenty years ago. That's in real dollar terms (the terms that matter).

I believe the "widespread sense" that buying a home more expensive is misguided. Alas, for the most part I expect to see an up-tick in sensationalized "bubble bursting carnage" stories from the mainstream media in the coming months.

Meanwhile, the entry point for the housing market in our region has many opportunities for first time buyers. The last few deals we've put on the table have been under $200,000 for multi bedroom properties.

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