Wow, a 8.5% drop by 2008 – that gives our salaries time to catch up – NOT – maybe they mean 8.5% drop from 98-99 prices.
I’ve always been amazed that $700,000+ tracts of homes were built and sold, like overnight.
But was really surprised me was how many people could afford that kind of money to buy those cookie cutters or the older junk – of course now the cat is coming out of the bag… many, many (maybe most), of the buyers couldn’t afford what they were buying.
