Quote Originally Posted by piece-it pete
I saw an article it last Sundays' paper about the National Association of Realtors' take on this - their second in command said basically that because the prices per sf in our secondary markets aren't as high as Tokyo or London that there is no danger of collapse.

Thanks goodness!



Pete
Glad to know that we can count on them for factual market-based information!

How the hell does anyone say that with a straight face? Unfreaking real. I guess I should start converting grain elevators in the rural Midwest into housing because the price per s.f. in those markets is off the charts low!

Quote Originally Posted by piece-it pete
Hey, if you listen to the NAR you can pay 20% over market value!

They'd be FINE with it.

Pete
Optimism reigns supreme. Is it any wonder we have so many dotcom refugees now getting their real estate licenses? In Cali, if not for the huge upsurge in jobs tied to real estate and residential mortgage lending, we would have had totally flat job growth over the past three or so years. Scary to think that if the residential market hiccups just a tiny bit, we're back in recession.