Is this a daily article or thread with a few new quotes or victims?
I posted a serious question on the end of the last thread attempting to get a little education on the topic and I killed the thread. This is basically the same thread.
/confused/
I will ask it again to anyone who can answer....
A poster on the other thread said the price of gold/silver would continue to appreciate over time due to a limited supply.
I asked if you could not apply the same logic to premium properties within reasonable commuting distances from major cities/downtowns.
This seems to make sense to me although I am sure there is no single rule for all markets.
Be careful with those people. Good grief.
Generally that is true. But when prices get so high people can no longer buy them, regardless of their desire for them, then they're bound to drop because the demand drops.
"Will premium properties within reasonable commuting distances from major cities...continue to appreciate?"
Yes they probably will unless there are other factors affecting the major city, ie, Ford Motors, etc. cutting its work force by significant numbers; overbuilding in the past few years when mortgage and construction loan money was cheap.
Baltimore with its diversfied economy has been appreciating as people closer to Washington, DC have gone there for affordable housing. Good public transportation between those two cities helps. Washington, DC/Northern Virginia continues to appreciate as the homeland security business brings more companies and employees to the region. However the condo market has been overbuilt, and with the higher rates for loans, many are being rented out as apartments rather than being sold.
So while your logic is basically sound, it is important to understand local factors and future prospects before investing, just like the stock market.