Reply #2: I predicted this would happen...1200 new homes went up [View All]

[bleedingheart]

in our area...in a very short period of time. Now people who lived in homes they paid $280k for ...are asking $400k for the same home just 2 years later....and I have to say I don't feel the least bit sad for them as they have to keep dropping the price. Hell one guy in the neighborhood down the street is doing this...and he built a new home already...so he is carrying TWO mortgages on homes in the same community because he though the first one would be his "investment" that would pay for the second home he purchased...now he will be lucky to keep either one.