When we close and took possession of the first property and put the key in the door for the first time as owners--there was this sense of euphoria and unstoppable-ness: "Wow!!

Recent survey came out that people think its generally a terrible time to buy a home; very low reading....with that said this usually doesn't happen at peaks - usually tons of euphoria and everyone thinks its great before a market crash.  

As most of us know; in most of our markets we currently see low inventory and are seeing buyers ‘euphoria’ with multiple buyers outbidding for properties in some instances.

I'm just wary to hop on the euphoria train like everyone here did back in the early 2000's.

But, I think that some of the euphoria will die down in a couple of years. 

Intaxicaton: Euphoria at getting a tax refund, which lasts until you realize; it was your money to start with. 4.

Well, I have come to accept the same is often true in reverse for euphoria, so I just strive to not feed into that at all but yes you are correct, my "farm" market is pacing about 5-7% rent appreciation although I am slowing that on leases to 3.5-4% for sustainability sake. 

It's going to be expensive, but if we don't do it, it's going to be death by 1000 cuts.Right now, everyone is intoxicated in the "high demand" environment, but there's a lot going on beneath the euphoria that should give STR owners  concern. 

When everyone and their brother is saying that they've got to buy right now before they get priced out of the market and the euphoria of appreciation is running rampant, it's time to sell.

http://www.wsj.com/articles/where-prices-start-at-115-million-bel-airs-trophy-home-boom-1446126541