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I think there were many people who were ready to buy during those recession years but held back. With short supply and people buying and driving up value, many are feeling left out and interest are so good, its almost free money. Investors both domestic and big foreign money are driving the market in big cities across the US. There's going to be more of a feeding frenzy when interest inches up 1/4 to 1/2 point because buyers are afraid they will be "Left out" of the deals and miss the opportunity of the lower interest rates then it will be stable for a little.
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