Real Estate or Rich?
CNNMoney.com is reporting that home sales are slowing, condo prices are slipping and sellers can’t get their asking prices.
And even real estate bulls are now waving the caution flag.
If you’re expecting a short-term gain, “you should be looking elsewhere,” says Christopher Mayer, a Columbia University economics professor who not long ago argued that land shortages and rising populations would translate into ever-rising prices in “superstar” cities like New York and San Francisco.
Clearly, it’s time for a re-think, whether you’re mulling over buying, selling, refinancing or remodeling a home or investment property. Or if you’re just wondering, Is our house still worth what we think it is? To read the rest of this article, click here.
