I know $530k looks cheap compared to $750k, but peak pricing was so retarded it qualified for the Special Olympics. Not saying $300k is possible but do you really think a house is worth 77% more than a decade ago, especially in today’s economy?
Raising interest rates could shock the real estate market enough to crash it. Cheap credit and government manipulation have kept things propped up as high as they are.
We might be close to a bottom in some areas but I doubt any areas still selling for $500k are close to it.
