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When The Bubble Bursts

Posted by: Chris Steins
Thanks to: Chris Steins
15 June 2003 - 11:00am

Good news: Housing doesn't necessarily behave like the stock market.

"A housing bubble takes place when housing prices are pushed higher than an area's economy can adequately sustain. At such a time, incomes are rising and jobs are increasing. Later, when the economy is disrupted, jobs are lost and incomes fall. The number of prospective buyers who can pay inflated housing prices drops � and so does home value... This drop can be a major financial setback to homeowners expecting to cash out on the value of their homes."

Full Story: When the Bubble Bursts
Source: Planning Magazine, June 14, 2003
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One of the keys to regional and local prosperity is the ability to attract and retain high-skilled people. ... Many people can, and do, choose where they want to live based on factors beyond their ability to make a living.
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