Build,build,build,and all at the top of the cycle when it has nowhere to go but down.
Isn't anyone listening to what the banks like RBC and others are telling us??
We've seen this before,and we've also seen the end results,and it wasn't pretty.
Lowering interest rates is a ploy to get people to borrow and keep spending.
Wow!...look at all the cheap money/credit available!
And then they start to RAISE the rates...POOF!

tyner ridge, davis road, who know what on university way.... lots of empty subdivisions.... not sure where the new people are to fill these up.... oh yeah there's all those people who used to work at winton global who must be in the market for a new house or maybe the folks from abitibi in Mackenzie wanting to move to the paris of the north.... me thinks there may be quite a few bargain foreclosures i pg in the not too distant future....

tyner ridge, davis road, who know what on university way.... lots of empty subdivisions.... not sure where the new people are to fill these up.... oh yeah there's all those people who used to work at winton global who must be in the market for a new house or maybe the folks from abitibi in Mackenzie wanting to move to the paris of the north.... me thinks there may be quite a few bargain foreclosures i pg in the not too distant future....

Build it, and they will come? That's 'credit' for you ~ "The substance of things hoped for, the evidence of things unseen."

It seems to me the intense drama which is currently being played out in the world's financial markets is going to have serious ramifications on our housing market (and economy).

If anyone wants to educate themself on what is currently going on in our financial world, I strongly suggest checking out the following website. This website collects financial stories from a wide variety of news organizatons.

The following is the link to this web site.

http://nychousingbubble.blogspot.com/index.html