MSNBC has a very interesting comparison of what type of home $500,000 will buy you in different cities. The old addage "location, location, location" is certainly true. I found it especially interesting that half a mil bought almost 4,300 square feet of space in Houston (with a very nice look, I might add) but less than 1,000 square feet in San Jose (for a fixer-upper).
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Much talk has been made of a bubble but I see no slowing down yet, however it seems foreclosures are rising.
Posted by: ceo in training | July 12, 2005 at 10:24 PM
I think bubble is a strong word too. The fact is, that as rates climb, more and more people will not be able to afford either to buy a house, or even move and lose the attractive rate they have now. My bet is that the massive equity increases will taper off and we will see some relatively stable prices for awhile. But then again. What the heck do I know? :)
Hazzard
http://elym.blogspot.com
Posted by: Hazzard | July 12, 2005 at 11:36 PM