I've been around long enough to know that Fat Lazy Union owns a nice house in Carmel Valley. He bought near the top; but he's open-minded enough to see the real estate market for what it is — overpriced.

patientlywaiting,

You're giving more credit than i deserve. Actually, my house is a POS stucco box… But relative to all other stucco boxes, it's probably about an average POS stucco box. In fact, I can't recall any new developments that aren't stucco boxes.

It was overpriced when i bought it, but at least the interest rate was really low. Right now, I think it's the worst of both worlds. Interests rates are up, particularly jumbos, but home prices haven't come down enough yet. Yes, I'm aware that it's still lower than other points in history. BUT, home prices haven't been this high at any points in history either. 1% difference on a jumbo is significant.