Tuesday, October 11, 2005

Reuters Business Channel | Reuters.com REAL ESTATE BOOM!

Reuters Business Channel | Reuters.com

The real estate boom is getting its second breath. As Reuters reports, the boom is alive and well in hurricane ravaged areas.

The talk talk talk of a real estate bubble slowed the market for a while. Right now, buyers should be aware that homes are cheap partly because mortgage rates are so low. However, mortgage rates have been creeping up. Greenspan has jawboned the banks to raise rates and to screen for better credits. The jawboning can only go so far.

Millions of Americans can afford a home, millions more Americans can afford to move up and millions more can afford a second home. The housing market has held up extremely well in the face of very negative consumer attitudes. The next leg will be shorter but prices will rise significantly.
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