What about listing agents who deliberately encouraged sellers to list a bit lower than current market value, knowing this would set off a bidding war? Think some of this might have happened the last couple years?

“Used-house salesmen” must share in some of the responsibility of the current mindset, that citizens might be “priced out forever”. Whether they are merely “parrot”-ing what their figureheads are saying or if they truly believe it, they have added something to the game.

Secondly, tell one of the more seasoned Realtors around here that she is merely a “facilitator” and I bet she would laugh at you. After all, her “investors” have all made millions due to her foresight and wisdom and I am sure she would let you know that she has a LOT to do with that.

Last thing, I found it amusing that you described yourself as a “sophisticated investor” who is “wealthy” and can “afford to lose all of my investment”. While it may be true that you are a sophisticated investor (“we’re not worthy..we’re not worthy”) most of the people I have met, who describe themselves as sophisticated, are ANYTHING BUT. I’ll give you the benefit of the doubt, of course 😉

Most of the people marching unwittingly towards financial ruin do not have it as good as you sound like you do, so your “can afford to lose all” viewpoint probably isn’t relevant for about 99% of the population.