Clearly, the prospect of home ownership has diminished. My father bought a home on 1/4 acre near NIH in the '50s with three children, an ordinary salary, and a wife who never worked. I bought my first home in 1981 in Arlington with an interest rate of 17% and, while both my wife and I worked at the time, it wasn't that difficult. Today, none of that is possible.
That’s happening in many places, even in the small town on Wisconsin my daughter lives in. They’ve been outbid every time.
I live in a rural town in Texas and the houses have even gone up considerably here.
It will go down in most places. For everyone’s sake I hope it is orderly and not like the bust of 2008.
I live in MD. They have to go out towards Baltimore. Some places are still in the 300s.