Reply to Please stop building these cheap, ugly “craftsman”

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This market is going to seem a meaningful correction soon.  At some point, the math has to  work.[/quote]

What makes you think "the math" doesn't "work"? You finding it shocking or wrong that homes are this expensive in this area doesn't mean anything. Willing buyer/willing seller. Sometimes I think this forum is full of people who still have the 1985 purchasing power of 1M in their heads, who can't accept that 1M isn't what it used to be. [/quote]

The gap between the income level and pricing level has gotten far too wide. Ultimately, the buy universe gets thinner and thinner and eventually you get a reversion to the mean with a bunch of late buyers caught in the “prices only go up euphoria” holding the bag. Very similar to the dynamics you often see at the tail end of an overbought financial market. At the end of the day, just my humble opinion — I had this same opinion back in late 2006 / early 2007. Time will tell if I’m right or wrong…[/quote]

I think there are too many rich lawyers, plus people whose stock investments have done well. We'll need biglaw layoffs plus a stock market correction. The stock market correction may have begun, which means that the layoffs may not be far behind.[/quote]

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