Lee McPheters Home Quotations

Construction is at record high levels throughout the West. It is likely that as home building cools, those states that have seen construction hiring booms will record job losses as the cycle begins to subside.

Although the concept of a real estate bubble has attracted much attention, home prices in the U.S. at the national level have not declined since the days of the Great Depression.

There's an issue lurking that is new to us, and that is the rapid escalation of home prices. Last year, we moved above the national average (in home prices). It won't stop people moving here, but they're going to live further and further out, so far out that their commute represents a significant part of the day and freeway congestion. We'll suffer growing pains as a result of housing prices.