I wonder what a graph of the interest rates for the past 10 years would look like if it was superimposed over that one.
IMO Some houses in so Cal are grossly overpriced, mostly the ones that are near or over $1.5 mil.
Those houses will get hit with a significant correction.
The houses in the $700k range? Small correction which will be temporary. They will drop about $50k to $75k but will get all that back within 5 years.
This bubble theory has been bouncing around for about 3 years and I haven't seen it happen. In fact my house has gained about 50% since the bubble predictions started and 12% in the past 12 months.
If the bubble is going to burst, when? How bout some predictions?
