Some great posts and I’d love to address them now but have a very busy day ahead. I’ll get to all of them later.
If nothing else, I accomplished what I set out to do with this post which is to try to stimulate some poignant conversation on RE. Thanks to everyone for jumping in.
I will address one quickly for ocr. I dont think the change in limits will have a huge effect as the market that will be affected is already very dead and not where the action will be. Very few desireable homes in those price ranges are being listed so supply and demand are balancing to reduce the impact up there. I beleive there are enough buyers with enough cash to suck up what supply there will be. Prices will continue dropping from above while the bottom builds stability. As an aside, I have a low end property in escrow that looks like it is going to sell for about 75X monthly rental income. A cash buyer would get nearly a 20% return on their cash.
