I see this mindset in New Yorkers who genuinely believe that $1 million is not a lot of money to pay for a 2-bedroom apartment, even when it comes with thousands of dollars a month in maintenance costs on top of that. Of course they never would have believed such a thing 10 years ago, but the anchoring effect of the housing bubble is astonishing to behold.

The National Housing Survey and the Real Estate Bear Market — Seeking Alpha

This piece is worth reading in its entirety.

Source: seekingalpha.com

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  1. wiesen posted this