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No Slack in Housing Demand.(services of ResearchWorldwide.com )(Brief Article)
New York -- Despite some talk from economists about a housing bubble - not unlike the dot-com bubble - getting ready to burst, private homebuyers aren't listening and perhaps don't need to.
According to commercial real estate research firm ResearchWorldwide.com, homebuyers, on average, are ignoring warnings of bursting bubbles and are continuing to demand residential property to buy worldwide.
On average, house prices recorded an 8.7% price increase in 23 countries in late 2004/early 2005. The United States ranked No. 8 in the list of countries from ResearchWorldwide.com, showing a 10.2% increase in February 2005 from the same period a year ago.
The average homebuyer is still seeing "bricks and mortar" as more attractive than securities and bonds, according to ResearchWorldwide.com.
"Economists from all over the country have been beating each other up about this so-called real estate bubble," said Andy Pollock, CEO of First Franklin Financial.
"I don't believe [a bubble] exists," ...
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