Conflicting Crash Reports

An interesting post on Backfence.com says that Silicon Valley is in denial over a housing crash in progress.<blockquote>Prices disconnected from fundamentals. House prices are far beyond any historically known relationship to rents or salaries. Rents are less than half of mortgage payments. Salaries cannot cover mortgages except in the very short term, by using adjustable interest-only loans.</blockquote>Backfence.com - Palo Alto, Ca. local community news, information, events and advertising.