[Joe Hadenuf]

Well I don't know about the rest of the country, but I can tell you, here in Southern California there is no leveling off or price adjustments down, in sight.

Example: On Wednesday, a neighbor put his home on the market, and yesterday, Sunday, it has a sold sign on it.

They continue to sell for record prices in record time. The available homes for sale, or the inventory is almost non existent.

When a home goes on the market, it's like a feeding frenzy and the homes are getting full price offers!

Realtors are fighting for listings, as very few are selling, as buyers are lined up. Again, no inventory. Supply and demand.

I am not saying at some point they wont level out, but I can tell all, that at this point, it is one hot housing market in So. Cal.

[.38sw]

Pretty much the same story here in the SF Bay area. We just bought a home a couple of weeks ago. The seller was stalling on accepting or rejecting our bid, our real estate broker pushed the issue as time was up, seller accepted. Within 1/2 hour after accepting our bid, two more bids came in. Supply and demand.

[PoisedWoman]

In my upscale Seattle suburb, homes are selling at full price. Which is way down from a couple of years ago when buyers were bidding and buying at far above list price.

My sis just bought a lovely house in Houston, Woodlands area, and there wasn't much on the market there. Her RE agent can hardly keep up with the sales he's making day after day and is urging her to join Coldwell Banker and sell houses, which she once did in SoCal. He says prices haven't taken the expected dip after Enron, etc.

[sphinx]

I am not saying at some point they wont level out, but I can tell all, that at this point, it is one hot housing market in So. Cal.

Well, if we keep doubling the population every 40 years ....

Oh, never mind. I know you're one of the good guys on immigration. Similar situation here, though. In the DC area, the suburbanites are spending two to four hours a day in their cars, and it's only going to get worse. Close-in properties should do well over time.

[B. A. Conservative]

Two years from now banks will be almost giving them away. Three years from now, they may pay you to take them. I saw it happen in Ft. Worth during the 70's.

[Indrid Cold]

In the suburbs of Minneapolis/St. Paul, people apparently have make a bid of how much over asking price they're willing to pay. The homeowner takes bids for a couple of days, then sells to the highest. Madness.