As I said, I think nominal prices will come down. So actually, we agree. I think your point about wages is a good one. The problem of outsourcing will only grow, it seems to me.
Of course, if the US decides to print its way out of this ridiculous debt we’ve incurred in the last 5 years, real wages and real home prices could fall while inflation soars (and nominal wages and nominal home prices stay flat). That very real possibility all by itself is enough to keep me from being very certain of the future of nominal home prices in SD. And I think that’s the only place we differ, is our level of certainty.
