Most recent borrowers were speculating on price appreciation. Our host, Rich Toscano, wrote a good article on this subject a while ago.
If anyone finds the article, please post the link.
DesperateBuyer, you’re entitled to believe what you want. Just promise to come back here again in 3 years and give us your take of the market at that time. It’ll be an interesting discussion.
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Certain people, especially those in the REIC can’t believe that they worked hard to “build” can collapse. It turns out that one of my friends’ sister-in-law works for Standard Pacific. They bought a house last year because they got an employee discount plus allowances. Well, now she’s getting a little worried because houses aren’t moving.
