youngster, no one intended to leave an impression that prices for what you plan to buy won’t drop a lot. I hope that you will buy your future home at a 50%+ discount off today’s prices.
But if I were planning to buy a beach house in Corona del Mar, I just wouldn’t count that 50%+ drop before it happens. If wealthy people get whacked by a big drop in stock prices, or a deep recession, then it could happen, but probably not if it’s just a credit contraction.
