Regardless of how much money some people have, prices are made at the margins. It only takes a few defaults to drive down the comps. The comps are the new values. Sorry neighbor.

I’m bearish on the Real Estate market but not on the economy. We’ll have recession but we’ll move on.

I might be proved wrong. We’ll see in 5 years. I’ve made the decision not to buy for 5 years, although I can afford to do so today. It’s going to be hard to resist “deals” but I’m pretty unemotional.