<p>The Seattle and Portland markets have seen nothing like the overspeculation of California. Same for my little get away town of Lynchburg. Our prices have flattened overall but good areas are still in demand. Looking at gross data for a state is like looking at the overall index for stocks. Within that are 40 winners and 60 losers. And where are most of those foreclosures–way out in crappy areas far east of LA, Merced, Stockton, and other armpits where more speculators than real buyers were active. Same for Las Vegas where most of the bad loans were to specs buying houses out in new fringe subdivisions.
And investing is no sure thing. I remember a couple of major corrections in the last two decades. Dotcom Bust ring any bells?</p>
<p>My spending keeps some waiter in his apartment, keeps the hotels open, and the airlines flying. You want a real collapse have people stop doing that. Then all those stocks you have been saving all those years will be as worthless as a new home in Merced.</p>
<p>Plus better times are already on the way</p>
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