60 of 65
BACKNEXT
David Martorano: Waiting for the bust
David Martorano: Waiting for the bust
David with his wife, Melissa
• Issue #1: America's Money
• Share your story
Physician, 37, Pacific Palisades, Calif.

I am a physician renting in Pacific Palisades, where my practice is located. My wife is a realtor - she only works on a referral basis and does not actively sell homes. I have been a holdout from purchasing for the past two years because of my belief that the market is at least 20% inflated.

People are still lining up to purchase entry-level properties, and paying absurd amounts, up to $700 per buildable square foot. And this is not an ocean view, just plain Main Street type land. When I ask them why, they still say it's the Palisades and it can't go down.

NEXT: Tracey Feller: Relocation disaster
Last updated November 15 2009: 6:21 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
Best deals on clothes
Best deals on clothes
Money magazine's Best Deals on Everything: Your guide to the latest bargains in men's suits, women's shoes, cotton T-shirts and gold jewelry. More
10 big, booming cities
10 big, booming cities
New residents are flocking to these 10 cities, which added the largest number of residents between July 2011 and July 2012, according to Census Bureau. More
Financial help for people with disabilities
Financial help for people with disabilities
These Money heroes devote their energies to supporting the careers and economic health of those with disabilities. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.
© 2013 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .