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  by Elaine VonCannon

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  r the dot com companies in the early part of this millennium. The fact is, many dot com companies were houses built on sand, and these fell. The others remained, and are stronger than ever. E-commerce remains one of the most efficient, and time saving ways to do business. In fact, I would not be a major player in the Williamsburg real estate market without my website. In a similar vein, I believe that the media myth about the eventual collapse of the national housing market is painted in too broad of strokes.
I am in good company with my opinion. I would like real estate investors, home buyers, and home sellers to consider the opinion of two articulate and influential men, instead of relying upon the U.S. media’s disproportionate analysis of the real estate market. U.S. Treasury Secretary, John Snow, stated in an interview on Bloomberg Radio on April 26, 2005, “I do not think the evidence suggests there is a national housing bubble at all. Housing prices are high in some markets, but those markets are supported by underlying supply and demand considerations. It’s really a misnomer, I think, to talk about bubbles in the sense that you get a stock market bubble or a bubble in the commodity markets.” And, David Lereach, the National Association of Realtor’s chief economist, said in late April of 2005, “We still have more buyers than sellers. There is a strong demand for housing from a growing population.”
Home sales have rocketed at an unprecedented pace. According to the National Association of Realtors’ statistics home sales are still defiantly on the rise. This demand is fueled by many factors. Baby boomers make up a large percentage of affluent home buyers and their population is estimated at 75 million. They are buying investment properties, second homes, and helping their children become homeowners. Mortgage rates may seem to be inching up, but they are still extremely low compared to the double digit rates of the 1980s. I believe the current lending friendly market will promote a boon in the real estate market – not a bust.
In closing, I have some a
 
     
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