re: Are we teetering on the edge of a major pullback or crash in Real Estate?

My neighbor across the street's lot was Model A for the bubble, it sold 4 freaking times in 1 year literally tripling! Those days were absurd. The top was what they sold the house for, and then the bubble popped. My neighbor bought it as a short sale for low $200s in mid 2012. Its now worth like $330k. It was the subject of a newspaper article about the bubble. This was just absurd, straight from the property appraisers:

5/16/2005 $575,000
9/10/2004 $223,900
5/28/2004 $157,000
4/19/2004 $105,000
1/30/2004 $72,500

This is a neighborhood that is now selling for $300-$425 or so.

So there could be a slight bubble, but again prices in my neighborhood are still 20-50% below what they were in 2004-2006. Now some areas of the country have increased over that for sure, but its absurd how high everywhere got back then.

$2k for a 2br in a happening city is pretty reasonable. Get a roommate and you get to live in a great area for $1k a month, or $12k annually.

A lot of recent college grads making $50k base, so about $35k take home. 12/35 = ~34% of take home. Plenty leftover to enjoy life.

Very few recent college grads are living by themselves.

That what's going to kill me. All of my friends live together so I'll be living alone once I get a new job. 1brs are expensive as frick

Yeah, 1br can get pretty steep. In the heart of town you are looking in the $1,700+ range.

I moved to a cheaper area and rent on my own...I pay $1,200.

Man I dunno. It's insane to me that there are as many $500k+ homes outside bw8 as there are, in what Iconsider non prime locations. It's not just one area either, expensive 5,000 sf mcmansions going up from Pearland, to Missouri City, Katy, cypress and spring, all seemingly with plenty of buyers. Who buys these

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I have 22-25 year old coworkers who make about 45k spending $1300 on rent. No thanks

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You're correct. Suburbs would allow those dollars to go farther.