Old School Real estate blog in the Catskills. Journeys, trial, tribulations, observations and projects of Catskill Farms Founder Chuck Petersheim.
Since 2002, Catskill Farms has designed, built, and sold over 250 homes in the Hills, investing over $100m and introducing thousands to the areas we serve.
Farms, Barns, Moderns, Cottages and Minis - a design portfolio which has something for everyone.
The saying goes that the "second home market" is the first to feel the hit during a recession such as 2008 to 2010 -- where prices plunged from 20 to 30% from its heights in mid 2006 -- and it's the last market to come back due to it being discretionary in nature.
FYI.
ReplyDeleteA New York Times article about Narrowsburg. This chestnut was written about three years before The Great Recession in 2005.
http://www.nytimes.com/2005/04/08/realestate/08weekender.html?pagewanted=1
The saying goes that the "second home market" is the first to feel the hit during a recession such as 2008 to 2010 -- where prices plunged from 20 to 30% from its heights in mid 2006 -- and it's the last market to come back due to it being discretionary in nature.
All markets go up and they do go down.
Prices, as well as trends, will fluctuate.
Jaye P. Morgan