“The watercooler talk has started and it won’t be long before everybody knows somebody in trouble.”
I agree totally. The last time I got my hair cut, which was in November, the woman who cuts my hair, who is bright, personable, but not especially formally educated seemed to agree with me that housing prices are going down. She had a friend who bought a condo she couldn’t really afford with an exotic loan and tried to convince my stylist to do the same, who luckily for her ultimately decided not to. I think her reasons were more based on not wanting to change neighborhoods and liking her current situation/roommates/neighbors, but since she’s from SD originally she’s seen the ridiculous run-up in prices.
Her friend who bought in is in definite trouble. It really put me in a position of mixed emotions, because so often individuals experience personal pain in order for a system to correct itself.
