Once again, I agree with AN. This is something I heard before, around 1990, to be exact. “We’re moving to Spokane, Wash.” was one phrase. The other one was “some folks owe more than what their house is worth, so they just leave the keys behind and walk away”. I’m sure both phrases were a result of the residential RE market peaking in 1989. And now 2006 is like 1990 all over again, and I get to hear the same things again. Geez… I’m only 41 but I feel like I’m 140 years old with all this cyclical markets and feelings that keep replaying!
