Tuesday, May 27th, 2008
The Associated Press just published an article detailing US home prices have dropped at the sharpest rate in 20 years. The news media is “doom and gloom” oriented.
Think about it this way… If you have “irrational exuberance” taking place in the form of incredible price increases, would it not stand to reason that homes in California aren’t really worth 4 million dollars for 3,000 square feet? I feel home prices have another 10% to go before this correction is over. Check out the article here.
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