Given the recent undersupply of buyers due to failing mortgage markets
and tightening loan criteria, are good or bad areas (as defined by
ACORN classifications) more affected, experiencing larger price drops?
I believe it will be bad areas that will be more affected as the
buyers here are more sensitive to lack of credit. Buyers in more
affluent areas would have more disposable income and thus be less
susceptible to financial downturns.
Please correct me if I'm wrong as I'm trying to decide between buying
in a good area far from work or a bad area close to work.
- posted 12 years ago