I realize my original post is not 100% logical, if house prices just keep up with inflation and interest rates rise from here on then now, and I mean right now, might have been a good time to buy, but going forward with rates potentially going up and house prices not softening then I would say no, it’s not a good time. I guess I just want to be the first in a while to say we are in a bubble. It feels like 2003/2004 all over again with differences of course. Fewer ARM’s most flippers being REIT’s and have to prove income for individuals/households. Don’t know what will pop this bubble, but I know it will deflate at some point. And as to house prices dropping only 15%, that would mean you would only save about $1000 on the average home reassessment,which would be a smaller savings.
