Article: Is Housing Market Booming Toward A Bust?
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Is Housing Market Booming Toward A Bust?
How long can prices rise before no one can afford to buy? In a nutshell, that is the basic question that is niggling at the back of our collective subconscious when we talk about the real estate bubble.
Real estate is appreciating at staggering rates - as much as 19% in some counties in Florida according to state officials. Meanwhile, on the financing scene, interest rates are low - and staying there. Low interest rates mean lower monthly mortgage payments - which means that many people are able to borrow MORE and afford larger mortgages and more expensive houses. Couple the astronomical increase in real estate value with the continuing trend of low interest rates, and you have a sizzling hot real estate market that just keeps getting hotter as investors jump on board to get...
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