Bubble shmubble.

[Steve Funder]

Am I all alone here? People in my area can make $50/hour. Now, if we extrapolate from this, 50/hr x 40 hours/week = $100,000. Many of the people are dual income families. So a couple makes $200,000 per year. How low can real estate possibly go when a couple can make $200,000 per year? The Case-Shiller home price index, the “inflation adjusted” home price index, blah blah blah….All of these diagrams and graphs only stand to indicate that real estate had a long needed inflationary period during 2000-2006. Now, gasoline costs twice what it did 10 years ago, food costs twice what it did 10 years ago, but, if REAL ESTATE costs twice what it did 10 years ago… we’re having a bubble, and all of the experts are going to come out and draw a bunch of dumb graphs to prove the point. Now is the time to buy real estate; if you don’t, you will deeply regret it in 10 years. Come on, people, wake up and smell what you are shoveling.