Hi,
Sorry about the spelling mistake. I have come to depend upon Spell Check. Hopefully no Freud there...
Anyway, the true sign of a top is to map the rate of salary increase to the rate of sales price increase.
Homes have been appreciating 15% a year. It cannot continue.
Homes in Beverly Hills have depreciated 30-50% over the past six months but that does not make the headlines.
If one is breathing, they can attain a variable rate, interest only, loan.
If you are living in a lower end home that you bought for say 114K in 1994 it is now worth over 300K. Have the salaries doubled? No way.
Kids out of school can't afford a new house. Where is this demand going to come from?
Regards,
Leap
