I have not looked into home prices in TV or how much they have increased.
But here are a few general observations:
1) Unless I intend to sell, property value increases just cost me money.... higher taxes, higher insurance costs, possibly higher fees.
2) Prices tend to reach equilibrium whether it is a bubble popping or fewer buyers show up that are willing to pay elevated prices.
3) There are substitutes! Always!!!!
4) If home prices are rising quickly and I felt like I was trapped with a second home over the last several years... I would be looking to unload it soon!
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