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Overbuilding, speculation begin to take toll


mipa
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Just a note... Mr Baker appears to be the only person to see this phenomenon.

 

I am not saying he is wrong, but after I read that article, I called several realtors at the beaches and two more in San Jose, and the standard reply was: "HUH????"

 

In fact, I have heard of several Gringos and Canadians who took HUGE second mortgages, bought their dream in CR, and are just planning to move here and default their mortgages if the market crashes in the USA.

 

Probably not honest... but understandable.

 

Finally, the "baby boom" is NOT limited to the USA. It is a worldwide phenomena and people are coming here not just from North America, but from all over the world. I expect demand will continue, and the report of it's demise may be pre-mature. That is NOT to say we have changed our opinion that you should LIVE here at least six months before you buy anything.

 

Just my opinion!

 

TG

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  • 3 weeks later...

Mr Baker's overview appears to be tied to the population stream to the playas and I would think the internal wars regarding permissions and construction are much more meaningful indicators of "stagnation" - I can't find any link to US or Canada other than speculation, which is ever present ?

 

bottom line = I'm in with TicoGrande on this one B)

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