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Housing getting scary


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2013 Apr 13, 1:14pm   971 views  2 comments

by moonup   ➕follow (0)   💰tip   ignore  

“We are currently in a carnival funhouse mirror,” says Stan Humphries, chief economist at Zillow. ”Homes seem quite affordable when at base they are not.”

http://www.businessweek.com/articles/2013-04-10/cheap-mortgages-are-hiding-the-truth-about-home-prices

#housing

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1   MsBennet   2013 Apr 13, 1:45pm  

I have noticed some ridiculous price increases. A house going for 938K, two months later is going for 1,050,000. They are new houses. Same house.

Another house they bought for 990K in October of 2012 and now selling for 1,125,000.

It's like they are seeing how high they can go before some people say no. The weird thing is, will anyone say no?

2   Ceffer   2013 Apr 13, 3:29pm  

There is no reason why a vacant 1/10th acre lot in East Palo Alto shouldn't be worth at least 4 million dollars by this time next year.
(apologies to AF).

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