SCR Survey: The Bailout and Condos
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About the Author: Marco Kronen
Marco Kronen is the author of Seattle Condo Review and is real estate agent in Seattle who specializes in condos. He has been serving clients in Seattle since 2004.
No bailout will change the fact that the ratio of income to prices is out of whack. Now that banks have learnt not to lend willy nilly, the money will dry up.
They may not lend willy nilly but at least they can lend to qualified buyers now. Anyone who doesn’t think the rescue plan isn’t, all things considered, accretive for pricing is rooting for disaster just to prove a point.
I’m rooting for disaster just to preserve the relationship of risk to reward – the fabric of capitalism.