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Reply to "For fellow housing bears"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Prices are still below 2005 in almost all metro neighborhoods . Interest rates were 50 percent higher in 2005. Much more affordable now.[/quote] 2005 was also bubblicious. Why do you keep talking about 2005 like it was some kind of banner year? It wasn't. [/quote] Of course it was a bubble , but this is 12 years later and prices haven't even made it back with massively lower interest rates so now is way not a bubble. In past bubbles prices tend to shoot up after the ten year period it took to recover previous highs so historically we are on the verge of a price escalation . The economy also feels poised for big growth after a long period of malaise.[/quote] Massively lower interest rates allowed the current run up. Perhaps housing prices shouldn't be at the current levels.[/quote]
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