Future BC Anecdote? – “I bought my first house 15 years ago, a four-bedroom for $124K. I could probably buy that same house now for $124K. All the appreciation we’ve gained in the last 15 years, it’s gone.

“In the last 20 years, I’ve never seen anything like it. I bought my first house in 1996, a four-bedroom for $124,000, and I could probably buy that same house for $124,000. All the appreciation we’ve gained in the last 15 years, it’s gone.” –
Chuck Whitehead, general manager for Coldwell Banker’s Southwest Riverside operations [San Diego] Eric Wolff at the NC Times, 16 Apr 2011.

[When speculative manias end. – ed.]