Just so you know where your tax dollars will be going take a look at this New Hour piece from May 2005 (ironically almost the price peak in the earliest bust areas) that chronicles the state of the booming housing markets at the time… sick and disturbing speculators, absurd bidding wars, people recklessly reaching for affordability.
Then Nicholas Retsinas, Director of Harvard’s Joint Center for Housing Studies, argues for “stagnating” and “sticky” prices rather than a popping bubble correction.
