When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times.
More Quotes from John Karevoll:
We've had a doubling of prices in the last four years.John Karevoll
The rate of appreciation is coming down. We actually thought it would be lower than this by now.
John Karevoll
There are an awful lot of analysts and think tanks out there telling everybody in the world the sky is falling, and they have been consistently wrong.
John Karevoll
The boom part of the cycle is over. Most of the gains this time around are behind us. Now the question is how much of those gains do we get to keep.
John Karevoll
In most markets, the boom phase of the real estate cycle is behind us. The market is reestablishing a balance between supply and demand, buyers and sellers.
John Karevoll
It appears that today's market is probably as close to what we would call normal as we've had in a long time.
John Karevoll
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