I thought we made some progress but seems like we are sliding backwards.
Lets just all agree ETB is in the +1 million equity range +/- $800,000. Still sounds likes first world problems to me.
lets keep the conjecture to a minimum.
ETB keep posting sales from MLS, the bears might say that's cherry picking but nothing stopping the bears from cherry picking distress sales
I'm in the same boat at ETB, I have equity in the million +/- few hundred thousand. Both of us don't plan on selling. Even if the market dropped by 30% I would not even blink because its all paper gains. I would start to worry if it ate into my initial capital or somehow the property became worth less then my mortgage.
I feel that majority of detached homes should be in good finical standings and can avoid a flash crash, a steady decline for a year or 2 in single % loss is healthy, every market needs to cycle. Even greedy bulls know its not good for a chart to go vertical. Slowly decline and let time pass, hopefully we can find some support or build confidence where more people can participate again.
I feel that explains why prices are not coming down as fast as expected given the fewer sales going on, no one is desperate.
There's a ton of people here that are insanely drooling with envy of what you and ETB have, and rather than improving thyself, would prefer people to be brought down to their level. Anyone who actually has a place knows that a diddly drop like that won't mean a whit. People that actually know about these things would realize that there's not all that many new places being built with 30,000 people a year coming, and a low vacancy rate. Well in other words, we're going to the moon!