Re: Half-million-dollar housing
Chief Economist Alan Greenspan sayeth there be not a national housing bubble, but there beith local bubbles that will inevitably soon burst. Methinks one of those local bubbles is going to be Hawai'i, where people are buying second homes and investment property and where many people are getting themselves in over their heads with low cost ARMs that will put them into foreclosure once the mortgage rates go up.
Miulang
Chief Economist Alan Greenspan sayeth there be not a national housing bubble, but there beith local bubbles that will inevitably soon burst. Methinks one of those local bubbles is going to be Hawai'i, where people are buying second homes and investment property and where many people are getting themselves in over their heads with low cost ARMs that will put them into foreclosure once the mortgage rates go up.
Miulang
Comment