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Will the bubble ever burst in NYC, DC, or SF??
invite response
2012 Jan 29, 11:16am 45,715 views 88 comments
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It's starting to happen in LA, we just need 6% mortgage rates and it's all over.
Don't look for 6% interest rates anytime soon. The only reason the fed raises interest rates is to try to slow down an over heated economy, and the economy is pretty dead right now. I don't foresee-higher interest rates for at least 5 more years and more like 10 years before rates hit 6% again.
Fed does not control mortgage rates!
woppa
2012 Feb 7, 1:00pm
I forgot to mention the almost inevitable occurrence of another terrorist attack in NYC, which seriously shook the financial sector for a while 10 years ago. If that were to happen again, I think it could cause some problems for us economically.
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There may be a few other "it's different here" cities, and prices have come way down in the edges of these markets, but 4 years into the bust and prices in these fortress cities haven't returned to anything near pre-bubble prices. Will they ever or is this just the new normal?
#bubbles