I want to buy a home in the San Jose, Calif., area. I've talked with two brokers and both insist that the high prices of homes are justified because prices will go even higher in the near future. This seems to fly in the face of everything I read about the recession.
Every day there's a newspaper item about some major corporation laying people off.
And look what's happened to the stock market. When your neighbor's out of work, it's a recession. This was mainly due to demand from Silicon Valley workers and a shortage of new homes. With that background, it's easy to see why brokers in the area see only good times ahead. And they could be right.