I agree with the real estate analogy. Home prices in Phoenix increased 50% spring 04' to spring 06' but have now fallen (though not everywhere in the valley) about 5% and homes are taking much longer to sell. There is no doubt an 'irrational exuberance' hit the small bore market the last 2 yrs, especially with Fox and 16s approaching 20g prices, but also Ithaca NIDs and LCs. They are, however, building new homes but not more classic American SxSs (excepting CSMC.) :rolleyes:
Just can't see much of a price correction coming, but also doubt if there will be much appreciation coming either.
