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Originally Posted by JOHNNY_BUTTHOLES
i agree with most of that you say. But there are some analalysts that say hot areas could be cut in half or even more. The unprecedented run-up had zero to do with fundamentals, and all to do with reckless lending and WW2-era interest rates. this could dwarf any previous real estate bear market by orders of magnitude.
but seriously - HOPE i'm dead wrong.
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they ALWAYS say that, anytime the prime interest rate is reasonable and people start getting loans. I do think there will be a slowdown on new buys and maybe a little fallback in value in the short term, but in Cali the historical trend has been that values skyrocket, then stay stable for a few years, then skyrocket again. They hardly EVER go down.