Who has been buying those boats, motorcycles, cars, etc? I’m just saying that the chill of equity loss is on the horizon for many. The US consumer will stop spending when their equity goes in jeopardy. Do you see a ever steepening curve and long term trend downward in Real Estate here in SD?
p.s. It takes buyers to step in. What is the current cost of a super jumbo? Will that even put more pressure on home prices? At what point does the entire market move when equity is being erased?