jp wrote: I am sorry, but I

[patientlywaiting]

jp wrote:

I am sorry, but I disagree. I do not think there was any “informed” speculation. Only folly.
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Courtesy of OCrenter:
http://bubbletracking.blogspot.com/2008/04/price-break-at-4closure-ranch.html

Don’t tell me that someone who rented since 2003 and bought that house today would not have a higher net-worth, all else being equal.

1) Landscaping and improvements would be done.
2) property tax basis would be lower, now and forever.
3) Ownership premium since 2003 would now be a nice hoard of cash.
4) House would be paid off much sooner and family better-off.

I say that house prices will go back to Y2K.