Aug 26, 2008
You mean that stuff I learned in high school economics was right?
26 Aug 2008
Posted by Andrew Kantor
Demand goes up, and prices go up with it. But eventually prices go too high and demand slakes off. (Then the media comes in to announce the "crisis.")
But then — and this is that cycle thing at work — prices drop and demand increases again.
And what do you know:
More Americans waded into the housing market last month, lured by falling prices that helped send sales to their highest level since February.
At least a third of properties bought in July involved foreclosed homes snapped up at bargain-basement prices or homes sold at a loss by owners who had no alternative, according to the private National Association of Realtors.