It is pretty scary. And it seems the bubble bursting comes down to home prices only going up 1%. Is that what 4 years of fearmongering came down to? Even with all these massive increases in foreclosures, we are still well below average. The is like 1929 all over again.
Yup, if we'd listened to our self-proclaimed maven of real estate, we wouldn't have purchased homes during the past four years and would have missed out on the incredible increases in value. Now, like ex-Texan, we'd be sitting on the sideline wondering how we're ever going to find a place to call our own, or scoop up foreclosures and retire on the Italian Riviera, or avoid living in a van down by the river.