It’s too bad that Blanche Evans seems to be drinking some of the same kool-aid that the other Realtors are. She’s actually a very respected journalist in the Real Estate field and is usually more objective than this. It seems she is bowing to her constituents now however.
I wonder if she saw the news where economist have just raised the chance of a 1/4 point interest increase and another 1/4 point increase after that to (about) 84% after a recent Fed meeting? I don’t see the inflation free expansion she’s talking about. I don’t think anyone (other than the guy in OC) is really recognizing the impact of zero savings at a time when all these Baby Boomers should be maximizing their savings due to the cash-out equity effect. Once that ends (which will be very shortly), this “expansion” will be thrown in reverse before anyone even knows what’s going on.
Will there be a complete real estate “bust” this spring. I kind of doubt it, but ask me about spring 2007 and I’d have a much darker prediction.
