Interest rates hit a 15 year high this week

By Johnny Fuery ⋅ October 21, 2005 ⋅  Print This Post ⋅ Post a comment

Like I’ve been saying for most of the year, the jig is up. The real estate party is just about over.

I hope the speculators all lose just enough so that they sour on real estate for life. No ill will, just anti-bubble sentiment. For all the silly people that for some reason don’t mind paying a million bucks to live in a 2 bedroom flat in San Francisco, welcome. I hate what you’ve done to traffic and the homogenizing effect on bay area culture, but you’re the reason I don’t sweat spending $4 a day on coffee.

Oh, and when your payments on that option ARM double in two years to four thirds of your paycheck instead of two thirds, I’ll happily rent you a place in the east bay.

(You wouldn’t read if I weren’t a little tongue-and-cheek, now would you? :-) )