years, but I do keep in contact w/ lots of retiree friends and thus, do have an inside track on housing. Being in STLMO, the housing is usually 10 years behind other trends in the Country, no big deal, it's Missouri after all. Housing if anything, will probably keep going in Calif. and/or FL, mainly because that's where a heck of a lot of Missourians move to, if they leave the state. If they don't leave, it's because the cost of living here is still in the cellar, and not too bad here. So that's not bad but we do miss all of our friends that have moved away, we don't miss them, and a lot of us do travel and visit them, a good thing.
The 50% crash, perhaps in those super-hot markets, where it seems like there are bidding frenzies out there for properties. This is dangerous, IMHO.
Another reason the crash(es) would happen is the ridiculous surge in insurance and / or other costs, but I don't see the compatible increase in property values (insurance-wise) or increase in services by cities, if anything, they're shrinking. Isn't this the wrong way?
I do see some self-insurance coops being set up. Perhaps a very good trend. The day of being ripped off by insurance seems to be reaching a boiling point, when sure, you see perhaps in a disaster 1000 homes impacted (of which only several hundred are majorly impacted). But guess what? Rates are raised for those 1000 big-time, and then the surrounding whole region or state is forced into big time rate increases, 20, 30, or more %s. Yikes. Now you can see where self-insurance by persons or self-insurance by groups is taking on more of a bigger role, as it should, I think. Perhaps some insurance can still be purchased, such as million-dollar liability insurance (fairly cheap, but an easy way to increase coverage).
Just some thoughts, we'll have this boat to cross in eventually w/ ever-increasing rates.
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