Housing Slowdown

The Morning Call has an article on the area housing situation - specifically noting that the Lehigh Valley has yet to be significantly effected by the floating interest rates which have burst many other areas bubbles (read the article here).

Housing prices continue to to climb, but at a much slower rate than before.

For current homeowners, the important fact to consider was this:

'The housing market is starting to make a significant correction. But unless you have to sell your house, it does not affect you,'' Bethlehem economist Kamran Afshar said in an interview last month.

Unfortunately, those seeking their first home will need to be a bit lucky in finding an affordable home.