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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (27054)	3/28/1998 4:08:00 PM
From: Skeeter Bug	Read Replies (1) of 132070

mike and all: inflation is for real... real estate that is. in california values have reached levels that make the market look undervalued. it is literally insane. the avg home in san jose is over $500k - more than san fran. we are at a turning point, imho. either rates are going to rise to reflect this inflation and housing values plummet as everyone is strapped out at current rates or else all these housing prices will plummet due to a recession. either way i, as a home shopper, do not feel good about buying a home. in parts of san diego there is only 20% of normal housing inventories over the last 8 years. insane. btw, swtx hit the wall. i hope only for the short term...

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