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Real Estate
Reply to "I think the bubble is popping."
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[quote=Anonymous]"Moron" realtor here. The high end of the market is always a [i]leading[/i] indicator. People who buy $5M houses don't buy it thinking...what's my HHI...can I afford it etc. They buy it from an asset perspective, whether it's appreciation or capital preservation in mind. If THEY are not buying, it means...they think cash is better, or there are other investments that are better. i.e. Housing is NOT a good way preserve capital. That throws the entire inflation argument out of the water. i.e. bubblicious markets are staring down the reality hole.[/quote]
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