Hopefully. This is good, because in five years – after I repay my parents – hopefully I can pick up a place on the not-so-expensive side.
Now there’s consumer optimism.
But really, others are saying that despite an unkinder, nastier way of dealing with those on hard times, and the wimp-assiest sort of presidential plea that “people not take unnecessary trips” to conserve fuel (C’mon, he just choked on those words, didn’t he?), it will take years of bad news for people to really change their ways. Sure, their confidence is way down. But it could take years before they change their habits enough to matter at the gas pump, and I’m betting that, if anything, when they do change a little, it’ll fuel a whole new wave of real-estate buying–closer to city centers.
So, in other words, maybe that house in the suburbs will get cheaper in a decade, but don’t look for the bubble to pop in the city, Snay.