Reply to This must be some sort of housing bubble again

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Waiting is a recipe for disaster. Houses are appreciating at a 10 percent clip. On a $600k house, thats $60k per year. I doubt the OP will be able to get ahead of that snowball unless they purchase yesterday.

OP the truth is that there is a ton of money in this area pushing up prices, particularly for 'family housing'. In order to compete in this market you must become comfortable with the idea of being house poor to 'win' a decent house, because otherwise you will continue to be outbid by those who are willing to do that.

How long can double digit appreciation continue? Not forever, but certainly longer than you afford to wait on the sidelines. [/quote]

This is exactly the kind of mentality that leads to bubbles.

No economist anywhere would say that a 60k increase a year in housing value is healthy.  At that point, for the taxes alone, it becomes a better option to rent.[/quote]

Umm prices have been artificially low for a while, get a grip[/quote]

Not in this area.  Prices have not been artificially low.  Not at all.  In fact, many say they never came down enough and remained artificially high because interest rates were held low and foreclosures were kept off the market.[/quote]

+1. seriously, when were prices here artificially low? what was pushing down prices 'artificially'? the popping bubble? foreclosures?

ZIRP and QE are the artificial temporary housing stimulus supporting ridiculous prices; we'll see how it unwinds.[/quote]

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