iv'e been in the housing industry since 1971 and iv'e yet to see it not fall after a several year surge. right now, at least down here, the material price surge is adding about $30,000 to the price of the house. but, the mortgage rate down here is about 2% for a 30 year note. as long as the rates stay down there will be a market. when the rates start going up, and they will, there will be a big surge to get locked in and then it will fall off. and then the prices will begin to come down. in 50 years of this stuff, iv'e never seen it fail to happen. whats going to hurt is when gas gets back up to 4 or 5 bucks a gallon and food, taxes, energy and every thing else goes sky high. these people with the big mortgages are going be hurting. this nation has one foot in the financial grave already, and it wont take much to shove it over the edge. that's not a political statement, it's just a fact.
