[Mike W]

Property is worth exactly what somebody is willing to pay for it. If you're a property owner in The Villages, then the rising prices are good for you. It means that your investment is appreciating. However every time property values rise in The Villages, less and less people can afford to buy there, thus another possible factor in the lower sales numbers. Statistics show that while the economy slowly continues to improve, wages continue to be flat. The labor participation rate is about 62%, which means approximately 93 million Americans are not working, and 6.5 million (of the 93 million) people want to work, but don't have jobs. I've worked in the construction industry my entire life, but I haven't had a permanent full time job since 2006. When you're not working, you're usually not socking away money for your retirement. My wife and I want to buy a property and move to The Villages someday, but that's at least a couple of years out. I don't even bother looking at the prices of the new homes in The Villages, because I think you get the most bang for your buck with a preowned home. But if home prices continue to rise at the pace they have been, we're going to be priced out of the market. At that point, we may have to buy outside of The Villages and be regular visitors, or possibly buy in an other state.