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Very well reasoned argument Wayne, I would tend to agree. One of the #1 rules of economics is that prices tend towards the mean, with fluctuations +/-. By that rule, SoCal was certainly due for an adjustment. While I have no doubt that it will not adjust to KS levels of affordability, $750k for a middle-class home is simply not sustainable.
Funny how the bubble markets have affected everyone. We have radio commercials touting "a great time to buy" real estate, despite Wichita's constant 3-6% rate of appreciation. I suppose it has probably made everyone a bit skittish.
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‘07 Mazda RX8
Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc
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