[quote=jficquette][quote=4plexowner]I think this post shows why the top end will fall hard in the next year or two – the pool of potential buyers for houses requiring jumbo loans has shrunk dramatically
without cheap, fog-a-mirror jumbo loans the $700K+ market has a hard row to hoe[/quote]
I agree totally. There is no reason why houses should cost more then they did in 1995 which is the last time they were somewhat affordable.
John
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I am firmly int he “high end will drop” camp but this is crazy talk. End of 95 beginning of 96 was the bottom of the last cycle.
If you argue that there is some seismic shift and we’re headed past historical lows (adjusted for inflation) then we can at least entertain your reasoning.
If 95 was the last time things were somewhat affordable, then I think it means you can’t afford to live where you like.
