Re: Speak! Speak great Caesar of the lots
Posted by esmitty on October 15, 2008, 10:04 pm, in reply to "Re: Speak! Speak great Caesar of the lots"
My sense is that most LM real estate was bought with cash, rather than financed, which tells me that: |
1) Owners are in a different income bracket than those living through the real estate mess in most of the States.
2) Without a tugging mortgage, owners have more discretion regarding when to part with their properties. One level of urgency is removed.
What I would postulate from the above assumptions is that the market ought to look about like it does: Not much movement because sellers are more apt to hold their property than meet the prices offered.
But I am looking at it from a computer screen 1000 miles away.
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