And a lot of home sellers on both coasts are being exceeeeeeeeeeeeeeeedingly optimistic right now.
Yeah, as you mentioned in many prior postings, a lot of folks have gotten use to 20% --or more-- appreciation per year and don't want to consider the possibility that the party is over (or at least calming down) even if no one is talking about hangovers yet.
I'm so glad I'm not shopping for a house right now. And I'm extremely glad our household income is well above the local average: we couldn't afford our neighbourhood or lifestyle any other way.
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Date: 2006-07-27 04:43 pm (UTC)Yeah, as you mentioned in many prior postings, a lot of folks have gotten use to 20% --or more-- appreciation per year and don't want to consider the possibility that the party is over (or at least calming down) even if no one is talking about hangovers yet.
I'm so glad I'm not shopping for a house right now. And I'm extremely glad our household income is well above the local average: we couldn't afford our neighbourhood or lifestyle any other way.