zab , indeed first and foremost a primary residence is just that,,a residence.
As for values being 'sound' in the rest of the country... hopefully you're right but i'm skeptical.
I'm in one of the best insulated areas,,,a desirable DC suburb in northern va, and the real estate picture has changed dramatically. Insulated how? JOBS ...from govt/CIA/anti terror etc, high tech Dulles Corridor, Dulles Intl Airport. But still, inventory has skyrocketed.
In any event we discuss values here because it has so much to do with our national economy. I imagine manufacturers and retailers are dreading the new era of higher interest rates and loss of the flowing cash that 's been coming out of homes via higher resales, and equity lines, feeling of wealth, etc.
While the home is a home first, it's become for a few years, a meaningful source of consumer confidence and spending. That may well change, and it sure makes for good conversation;--)
Best wishes in your continued good health and a great holiday weekend!
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