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Using any kind of common sense (with more than a 2 year outlook) one would really have to be smoking crack to spend north of $2M for a 2000 sq/ft house....I don't care WHERE it's located. California (and a few other locations) were so artificially inflated that it's not even funny. What goes up must come down. Just ask your northern friends up in Silicon Valley. This isn't the end of the world...it's just a bit of reality settling in. You can only hope that the California Real-estate crack pipe will fire up again soon.
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Mike
“I wouldn’t want to live under the conditions a person could get used to”. -My paternal grandmother having immigrated to America shortly before WWll.
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