patrick.net

Me and my wife are looking for a house in Foster City California for past couple of years. We didn't buy hoping prices will go down further but the market is going crazy lately. We saw a townhouse in a foster city - 2bd 2 bath 1500 sqft which was selling for $550K in 2010. Now in the same community similar houses are getting listed for $680 plus. Few weeks ago in the same community there was listing for 2db 2 bath same floor plan. I do not remember the listing price but it got sold for $628k. Seriously ??
I do not understand how come market turn around so fast. It's absolutely a financial suicide to buy a house now. Prices are highly inflated. There is VERY BIG bubble forming again.