[quote=Nor-LA-SD-guy]Denial is thinking your going to get that Ocean View McMansion for less than 400K (call me the king of Da Nile), but never having plan B, maybe move a little further inland ???
Just a thought…[/quote]
If a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Do you really believe that our economy is better today than it was in 1999? I don’t.
I’d say the denial is on the sellers’ side. They seem to think that prices from the bubble period are normal “market” prices. They can’t seem to wrap their heads around the fact that housing prices only rose because of mortgages that could never be paid back.
