Rapid price increases?Last year the number was 12%. Highest since 1979. So, prior year or years had higher at some point since WWII and now.12% is not that high.What people are reading is more like 20% or more. That is a local market number. Such local markets (LA, LV, NYC, Boston) have seen corrections and have seen much higher then the national average.Most of the corrections are related to shifts in the local economy (big shifts in some examples) and rapid rises at some point prior. 12% is borderline for being labeled rapid. Hence we are talking about more extreme.A good hedging strategy is to avoid the hot markets.John B. Corey Jr.
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