Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
Expert Says Imminent Real Estate Crash is Unlikely
November 20, 2015
According to The Street, there are 10 reasons why we can dismiss the idea that a real estate crash is right around the corner, despite record real estate prices.
For one, most Americans have refinanced to fixed-rate loans. “As a result, the impact of interest-rate shock when short-term ARMs readjust will be minor, compared with what happened in 2008-2009,” writes Chris Leavitt for The Street.
Moreover, loans in foreclosure are at the lowest level since 2007, and interest rates are likely to remain low for the foreseeable future.
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