sticking our heads in the sand and pretending this is normal will end in disaster.

It will end in disaster if you are poor. Anyone who has ever grown up in poverty or endured hardship would know how very difficult it is to climb out of it.

It's like the person I went to High School with. Her parents purchased her a downtown condo 9 years ago and paid for her education. She landed a 70k entry level job through a relative. She posted a long rant on facebook last week about how people shouldn't bitch about the real-estate market because there's potential to make massive gains. Also, I came to work today to see that our place has hired two summer interns...they claim to be social justice warriors but have again made the point how easy it is to buy a starter condo for 300k. Uh, what?

I find like we're decoupling away from reality and accepting these high prices as the norm and it's worrisome...because you have to ask how high they can go? 300k was a lot of money 10 years ago, a couple could afford a SFH, but now that's the basic going rate for a decent 2bdr apartment in the suburbs. How many years until we see 1 mil 2bdrm condos become commonplace in the suburbs?