To all those of you who have generalized "somethings gotta give" at some point, or "the bubble has to burst" at some point..... why?
What are you basing it on? Example: the housing market is good to "hot" in virtually every market throughout the U.S. Why? Because of demand. Demand is not drying up. Ability to qualify for financing based on overheated prices, maybe, but "demand" is ever-increasing. Why?
Because people want to locate somewhere in the U.S.; they want to be here. Whether they are Hispanic, Asian or European or whatever. Inmigration is outpacing available housing.
If people cannot qualify for financing, and if that single factor slows demand, then prices will fall. Possibly to more realistic prices.
But demand will continue. So, why the "something's gotta give" attitude? Because nothing lasts forever? Okaaaay!!??.......
Fortunately, there's more to why things are the way they are (good and bad) than just "something's gotta give" or "the bubble has to burst sometime". You can choose to be a boat adrift on the river, or you can put a damn motor on it and control your course.
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As for us.....rates were down. So, we refinanced our home and took the money and 1) invested in new "money-making" equipment (capital spending), 2) paid off all of our credit card debt (high/exhorbitant interest rates) and 3) paid cash for a new Honda (40 MPG).
Oh yea, almost forgot...business is good....and getting better. It's not only how you look at the glass, it's also about what you DO with the glass.
How's that for pontificating? Now, you people down there....start rowing..."ramming speed"!!
Ed Holley
Victor Valley Trophy Co.
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