It almost makes me want to sell my house now, rent an apartment, wait for
the correction, and then find myself a deal on the water. That would make
the most sense. Of course, in Naples, the housing market hasn't made sense
for about 5 or 6 years now. They're still reporting housing prices
increasing 20% last year again. My house's appraised value is up almost 50%
since Jan. '01. That's nuts.





"Gould 0738" wrote in message
...
How about a $250, 500, or $750 increase when their 4% 3-year ARM hits 8%
in
5 years?

Exactly. Many of those folks will be trying to dump the house they own
and
move to a *cheaper* one, not bid prices up.