>>For years I've been looking for the housing bubble to burst. ...<<
You're not the only one, except in my case I'm watching for it to happen in Northern Virginia. I've got friends who don't make small salaries and are seriously contemplating having to leave because the houses they've lived in for a long while are getting too expensive for them (property taxes) while the other neighborhoods are becoming too pricy. And these aren't even the McMansions, but standard cookie-cutter two-stories.
I wouldn't mind seeing a bit of a burst here in Southern Virginia, either. There's one county right now that's building almost nothing but McMansions--people want to live in that county and are being convinced they want a new house (though some don't need much convincing)...and the McMansions are the only ones available, so they're breaking themselves to buy one. Of course, I can't yell too much about vicious homebuilders when some folks are dumb enough to buy their lines regardless of what is really affordable.
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timeasmymeasure
no subject
You're not the only one, except in my case I'm watching for it to happen in Northern Virginia. I've got friends who don't make small salaries and are seriously contemplating having to leave because the houses they've lived in for a long while are getting too expensive for them (property taxes) while the other neighborhoods are becoming too pricy. And these aren't even the McMansions, but standard cookie-cutter two-stories.
I wouldn't mind seeing a bit of a burst here in Southern Virginia, either. There's one county right now that's building almost nothing but McMansions--people want to live in that county and are being convinced they want a new house (though some don't need much convincing)...and the McMansions are the only ones available, so they're breaking themselves to buy one. Of course, I can't yell too much about vicious homebuilders when some folks are dumb enough to buy their lines regardless of what is really affordable.