21 Housing Market Experts
Expert #5
[ANTHONY MARGULEAS, owner/broker of A.M. Realty: "We are in a balloon, not a bubble. Real estate isn't like the stock market; it doesn't crash. 'Experts' saying it's a bubble are all financial people with no experience of selling homes. In Los Angeles, the market is driven by supply and demand, and there is still very little for sale. Even in the 'worst' market, prices only fell by four percent annually. Even if interest rates rise, the market will flatten slightly, but that's the air coming out of the balloon, not a bubble bursting. Changes in capital gains and property tax in L.A. are the only things that will force a change."]
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[ANTHONY MARGULEAS, owner/broker of A.M. Realty: "We are in a balloon, not a bubble. Real estate isn't like the stock market; it doesn't crash. 'Experts' saying it's a bubble are all financial people with no experience of selling homes. In Los Angeles, the market is driven by supply and demand, and there is still very little for sale. Even in the 'worst' market, prices only fell by four percent annually. Even if interest rates rise, the market will flatten slightly, but that's the air coming out of the balloon, not a bubble bursting. Changes in capital gains and property tax in L.A. are the only things that will force a change."]
More experts...
posted by Little_Silvered at 6:56 PM
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