[quote=bearishgurl]
What does this “mania” tell you? Do you think a principal residence for yourself (and possibly your family) is going to get any cheaper in the OC in the coming years?[/quote]
Tells me that it is a speculative mania and history tells us those always end very badly.
Yes, I believe there is a speculative bubble and it will pop. Unfortunately there are so many artificial parameters right now propping up the market, those can’t last forever…the higher the market goes the bigger the crash.
I will only believe in a recovery if wages grow and unemployment falls significantly. Without these developments the real estate market recovery is all smoke and mirrors.
Let me ask YOU – why is the speculative sentiment that prices will keep rising now any different from 2000-2006? At that time people like you were also saying the same exact thing – that prices will keep rising ad infinitum. People like you were proved very wrong in the last bust, why should this time be any different?
