From 1983 to 2002, the real estate market in Greater Portland has risen at 8.4 p
From 1983 to 2002, the real estate market in Greater Portland has risen at 8.4 percent per year, faster than anywhere else in the U.S. The statistics lead some to worry that the real estate market could again burst as it did when the economic collapse of 1990-91 hit. Although there is a similarity to that time period, the differences suggest that real estate isn't leading the economy by the nose this time. Construction hasn't been irrational, and banks are less vulnerable than they were. The increase in home prices can't sustain itself forever though, and eventually some homeowners may find themselves over-leveraged.
Real estate business
Richert, Evan, "From 1983 to 2002, the real estate market in Greater Portland has risen at 8.4 p" (2003). Maine News Index – Portland Monthly. 561.
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