Quote:
Originally Posted by knowit
This is all going to end very badly. Not sure why these idiots that are over paying for all of these properties don't see it. I saw this exact thing happen in Florida. two years later mass foreclosures and fire sale prices. People that don't learn from history are destined to repeat it. House across from me sold for $625K less than 2 years ago. Last month sold for $825K. Is it worth it? NO. The people getting hurt by all this craziness are the locals that can't afford to live here anymore. Hang tight folks and bank your money. The next realestate crash is coming. Be ready then. I will be.
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The biggest difference I see today is a lot of properties are selling for cash, no mortgage means no foreclosure. So unless we see a major recession I don't see it any time soon but I do think the market will slow down.