Speculation is a relative term in real estate. One man's shack is another mans castle; and selling prices for real estate are based on percieved values anyway. One sells real estate for the price that people are willing to pay. You make it seem like this is a new things. Been going on ions. I say, either play the game and participate in the market or "shut your F---ing mouth."
When the bottom drops out I won't be rubbing it in. Well maybe not....
Don't worry...I'm protected when the bottom drops...its called planning ahead and staying within your means...simple concept really...saves alot of future heartache, and bitching and whining.
Speculation is capitalisms ugly dark side. Listening to speculators is like listening to a prostitute brag about how much money she sucked out of her latest John. Well maybe not, at least she provided a service. Speculators do not.
Please shut you F---ing mouth, it is really ugly when I have to actually see/read this.
Very rarely in the world of real estate will you find properties selling for even 40-50% more than they're really worth, let alone 14 times what they're worth. Some people who pay too much for real estate will get burned by speculation. But their losses will be much less than the massive losses taken by stock speculators in the tech bubble.