off topic: well, another rumor, about house market shakeout...

["Bilo Selhi" <citadel@xxxxxxxxxxxx>]

this time the rumor is that US house market 
is nearing a shakeout. 
one shake out down, another one to go.
my RE sources are telling me that the luxury housing 
market is grossly overheated all around the country 
and is about to correct, especially higher prices 
( expensive ) housing. the rational is  that the 
expensive homes are speculative investment 
and as the owners 
will try to take profits towards the end of the trend 
the crash is imminent.

i kinda feel it myself and you might start hearing 
it on CNBC more often.
could anyone with RE connections please confirm 
that you there is talk going on around...

if that's the case then selling the overprice house now 
and buying back similar house later might be 
the best buy of the decade???

certainly sounds and feels like that buying a house now 
is tempting with low interest rates but what if it 
collapses and rate goes even lower???
bilo.
ps. luxury housing ( whateverfront ) went up to 100-150 % 
in the past 2-3 years... houses that were worth 
1-2 mil 2-3 years ago are now up to 5-6 mil.
waterfront luxury condos that were worth 1/4 mil 
then are now more than 1/2 to a mil...
although those are price setters but feels like 
reversion to the mean is a must here as those 
investment have to be turned into hard cash.