Average in my area is about $290k for a dump that 20-40 years old, average wage and IM not kidding is $9.50. Its either going to come to ahead and bomb out or your going to have alot of children who never leave home.

The need to close the tax liabilties which are 0% on the first 250k profit on selling a home for single people. More people are playing the real estate market it seems because of this, Vs the stock market is 15% tax on profits.

The only thing that is really scarey is how many banks have put themselves so far out hoping for an increase in values to stay its course. If they don't there will be a lot of repos and banks will be hurting with on some of the loan vehilces they used to finace the booming market.

As a society where commiting are selves to poverty with real estate values going up so fast. There is little incentive now days to build affordable housing for those who serve the community. I know after college I will leave CA