Friday, February 24, 2006

Goodbye Easy Street

"Even if [housing] prices simply flatten, it is going to cause significant pain.... Appreciation isn't bonus money for a lot of families; it's money that's already been spent," says James Chung of Reach Advisors, a market research firm in Belmont, MA. His "Moving Away from Easy Street" study says homeowners in Bubble markets are simply unprepared for flat or falling real estate prices.

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