I would say that someone who takes their equity and makes it count in their destination city is anything but a speculator. There are a lot of people who would regard having their home paid off as the fulfillment of a lifetime dream.

Of course, I’ll also say that at least some of the money that’s fueling the markets in these other areas is imported money from markets like San Diego and L.A., and that when the source of that money dries up it will have a ripple effect.

Someone on another forum made the comment that the money we bring in to other areas may be ours when we bring it, but when we leave it stays there.