Quote:
Originally Posted by MAXUM
I wouldn't be so sure of that per say. The cost of floating a second piece of property is getting more and more expensive and because of that fewer can afford to do it. At some point that has a way of capping how far prices can go. As the burden of who pays for what continues to shift to those who "can afford it" and away from the masses, that top end will continue to shrink as those that have something are being financially targeted.
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Sort of. But at current price levels, the real "cap" on waterfront real estate is the stock market...which is not capped. Pretty much nobody buying a $2MM+ second home is thinking about affordability with respect to mortgage payment and taxes. It's more a question of how much a person has at Fidelity and other long term financial issues.