Reply to Federal Reserve: signs abound that housing market is entering bubble territory

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[quote=Anonymous][quote=Anonymous]What will this minor correction look like?

Are we talking a home that is valued at $850k drops $50k or more like $100k in value? Or will be even more slight?

I've been very tempted to sell but then that would mean buying another home. The buying part and future corrections are what have kept me from listing.

My sister just closed on a house where they had to offer $50k over asking, waive all contingencies, and do a 3-month rent back to the sellers rent free so their kids could finish out the school year in mid-June. They only got this home because their agent was tipped off by her sister, also a realtor, before it hit the MLS. Before that, they'd lost out on something like 5 or 6 places. The last house they lost out on was a full cash offer accepted - $1.3mil.    [/quote]

Could you sell, pocket the equity cash in a 6 month CD, then buy in 6-12 months during the correction? I know that’s not practical for many people (moving twice, renting in between) but from a financial standpoint that would be the ideal thing to do. [/quote]

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