REAL ESTATE DEBATE
However, I would argue that an over-supply of housing already exists, as many properties are now owned by investor/speculators, who have no intention of actually living in the properties themselves, and for which no rental demand actually exists. Other units are occupied by owner/speculators, intent on selling before the rates on their ARMs rise to levels they can not afford. When these properties come to the market, and no greater fools remain to buy them, the artificial "housing shortage" will turn into a glut.
Zoning restrictions, tax incentives and "fundamentals" fueling real estate prices? Get a clue.
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Labels: Real Estate