How's your market these last few weeks?

[Mark Updegraff]

Things are flying off the shelf in Rochester NY. This is definitely an early start to the spring market. We're still at 36 degrees and buyers are flooding to the market. The market is being pushed, and it is selling.

Are you seeing this as well? Higher than normal prices and lots of action?

Cheers,
Mark

[Bill Coleman]

@CK Hwang Exactly what you are saying happened on Long Island in 2004-2008. Prices shot up faster than income levels and rents. Then it popped. I am nervous that I am seeing the same pattern here in Denver. Income has to rise relative to the rise in housing prices or people can't afford to buy (or they get loans they should not have been qualified to get and you know what happens then.)

@Account Closed When you say things like "if you think prices are high now, wait until next year" that was the thinking back in the internet bubble days. Better buy now before the price goes up tomorrow and you miss out on all that gain. Same thing with the Long Island market. I had tons of friends who were underwater as a result.

I think caution is in order. I don't plan to pull the trigger unless the deal meets my financial requirements. And if I don't do any deals this year, it would suck but I know I will be better off waiting. It takes a strong stomach to stay on the sidelines.