Elizabeth City Topics: Vacation Homes

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	Name:	roswellric -
	Subject:	Vacation Homes
	Date:	1/10/2011 5:13:38 PM

Prices aren't what anybody wants but before they rise we have to get rid of some of this inventory or the sales velocity has to increase. This indicates to me that we may be getting the velocity increase as the market perceives a bottom. Then they will be driven up by the normal course of things.

Additionally prices were about 20% too high to start with if you consider the ratio of mortgage costs to income. Prices overshot the growth in household incomes and now every thing has to adjust from inventory to the ability of households to pay.

Other messages in this thread:

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Vacation Homes - roswellric - 1/10/2011 1:15:37 PM

Vacation Homes - glen7297 - 1/10/2011 3:46:30 PM

Vacation Homes - roswellric - 1/10/2011 5:13:38 PM

I liked this one better - John C - 1/11/2011 4:52:39 PM

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