Quote:
Originally Posted by pepper24
1. There is tons of evidence for a correction from posters linking website along with their own analysis. Read the thread.
2. It's funny how posters that work in the industry and paid commision appear to make up a good chunk of the minority (not picking on you specifically). Just saying.
3. The unfortunate part of unsustainable growth is that the correction can be just as sharp. Yes, a lot of folks will be hurt by a correction but at the same time a lot of people were hurt by the boom. Not everyone works in cushy jobs that benefited from the boom and a lot are in worse shape today. Housing costs are most peoples biggest expense.
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1. I've read the whole thread, just haven't commented all along the way. I'm not convinced there is a huge correction coming, and while that might put me in the minority I just wonder how long we have to have this conversation? As was pointed out today its been about 2 years....so how long do you guys plan on dragging this on to eventually say "I told you so"?
2. I don't work in the real estate industry. I have a vested interest here in that I own property and a lot of people would be screwed if the Armageddon of real estate happens as some seem to allude to in this thread. I have friends and family here and who knows how badly some of their plans would be hurt? I also run a business and while I don't make a living on real estate, my business clearly fares better when people are not having their homes foreclosed on!
3. I understand market cycles and understand that a correction could come suddenly and without warning. I also note that the talk now of a "correction" is funny to me. How long ago was the idea that we were feeding a bubble here? A correction is completely normal though, and that shouldn't be something that an average homeowner fears.
I'm still waiting for someone to admit in this thread that they sold their real estate because of this impending correction/crash though? Surely the real estate geniuses out there aren't going to follow everyone else down for the ride are they?