We expect prices to continue to go up but at a slower pace. We expect the (annual) appreciation rate by summer to come down to below 10 percent. |
We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today. |
We've had a doubling of prices in the last four years. |
What we're watching for here carefully are signs of a significant downturn, especially for price declines ... There are hiccups here and there but as a whole the market does not seem to be showing any signs of an impending decline. |
When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times. |