Quote:
Originally Posted by bizaro86
That's true. On the other hand, most people need somewhere to live now, not at some ill defined point in the future.
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I agree but OTOH so many buyers now a days are just investors looking for 2nd 3rd or more "investment properties". Go to a new condo build sales center and ask people there if they plan on living in the places they buy. %90 (pulled out of my ass but when I ask it's almost ALWAYS investors) of them are just looking to "invest". That's why it's stupid. The same "investors" that today are driving up prices will be the same people that tank the prices when a recession hits and they need to unload their leveraged positions.