Others should do what best suits them, but I have no interest in buying in a market with a buying frenzy going on, at prices still way above the prices at the bottom of the last cycle (1996), even after adjusting for inflation.
I am seeing a definite drop in the number of available properties in my low end price range in Orange County. I assume the reason is funny money from the govt, since very few people I know have saved up the current price of a home, or anything close to it. Why should I try to use my own after-tax dollars to try to outspend other people who are using my tax dollars?
