I sold a house in Poway to a young engineer, in March of 2004. Coincidentally, the house was at the combined median for the time as stated by your article. The sentiment associated with buying that house now vs.then, considering a family with the exact same means doing the same thing is so incredibly different. I did BTW, warn them several times that they could easily find themeselves upside down including beyond their 20% down and they should consider a scenario with at least six months without income. They were really sober about the deal but there was no real fear like there is now.
What all this makes me wonder, is… when will that soberness come back? So, I will stop there and ponder the question.
