Quote:
Originally Posted by sourdough
All things I guess are "blowing up" pricewise.
In the mountain valley where we owned our vacation home a friend built a very nice 3 level log home across from us (over 1/2 mile). HE built it (with the help of a log home builder fellow) for less than 100k. Sold it for 275k maybe 3 years back. It is on the market today for 699k per my neighbor and good friends (I haven't looked into it). They expect it won't be there for more than a couple of days because everything going up for sale up there is selling in a couple of days - now that is crazy.
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What makes me nervous about all this (your log home example above and all the vehicle examples in this thread) is that we're heading into another bubble. Eventually this stuff is going to end up going back to the banks when prices make a correction and people start to realize that they can't afford to be making all these payments.