There are lots of rational people on this site, but as Benjamin Franklin once said, “So convenient a thing it is to be a reasonable creature, since it enables one to find or make a reason for anything one has a mind to do.”
Unlike a few years ago, when the price is really out-of-whack, at this time, the price (together with the interest rate) is no longer that extreme therefore I am sure pretty one can find reasons to justify any of the price. And you guys just keep arguing with each other as if one can prove one’s data/logic is better than the other’s.
I will think the predictive power of rationality to forecast the real estate price no longer exists at this time (because of the price and the amount of government/FED intervention). I would rather talk about game plans to react with the future price changes rather than forecasting it…or trying to rationalize it.
