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You hit the nail on it's head. The condo craze is pretty goofy. All those lock boxes clutter up the view. The picture speaks for itself.

Out here in Oregon, mortgage companies recently increased their television advertising blitz. A commercial just aired urging people to take out a loan on their home equity. The ad actually said, "More money to spend, and with today's low loan rates, you will be ahead every month." That ad was run on a local news report about realtors and the local housing slump. They interviewed some people who were upset because they cannot sell their homes. Then featured a veteran house flipper who moved upwards into a pricey downtown loft. Of course, he made his money two years ago. The news ended on an up beat note: "Home prices are expected to rise again by the end of the year."

Meaning, the reporter expects home prices to continue downward. Until the end of the year. The report left out the cautionary "Maybe . . ."