I know that all R/E is local and that in places where the pendulum never swung in the first place wont have a backswing. But there are some components that would work against rising prices in any area of the country.
1. Less bubble money/equity from CA,Fl, the North East, etc.
2. Rising interest rates
3. lender tightening
4. Loan programs being eliminated
The stars were perfectly aligned nationally for a R/E boom in 2003 and the areas where it didn’t take usually had a reason for it. Move those stars out of alignment and I don’t see why it would cause a sustainable boom now.
