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I live in a highly populated area surrounded by late 20's and 30 somethings who are highly overpaying for homes in the new "it" area. I believe that once the Obama high is over and reality sets in that the housing market has once again been over-inflated and the economy really hasn't gotten any better (All of which will begin to happen towards the end of Obama's Presidency) I will be well ready to snatch up homes for pennies on the dollar because not only will they not be able to afford their health premiums that look like mortgage payments they won't be able to afford those mortgages either.
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