“But he’s jazzed because he can buy a townhouse for $50k off peak price.”

This from betamax at RE Talks 2009 Apr 28, 8:27am -

“I know someone who’s buying right now, he and his girlfriend just put an offer on a place. The crazy thing is, he works for an IT startup company which has already laid off 1/3 of the staff and may not survive the year, and the people already laid off still haven’t found jobs again in IT, but none of that has deterred him. And his relationship doesn’t look too stable either. But he’s jazzed because he can buy a townhouse for $50k off peak price. People just don’t think things through very much.”