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“NEWS FLASH – There was a bubble in real estate, especially residential. It popped. Some day…not today….prices will stop falling. There is very little reason to believe that they will then have a big move upwards (in some circumstances there may be a bounce from well below long-term trend levels, but you can’t play bounces in real estate). In fact, history indicates that it is more likely that prices will malinger near the lows for years.”
Word has it (or at least the newspapers are reporting) that due to the difference in the US Dollar versus the Euro and the Pound, that foreign buyers are keeping the market up.
We’ve always had a good number of foreigners buying here. I think it’s just the in fashion hype to say that “the europeans are simply breaking the door down”… makes one seem so “in the know”.
Ito the Box TV had a video on it as well, see it below. md
click HERE to se the video