The said part is not that people paid $500K, but that even $200K is really a stretch at the proposed value. The housing prices have been over inflated for far too long. Just as George Carlin once said, the house is a place to store your junk. We as a society bought too much junk and then too big of houses. Next thing that needs to fall is the price for health care and the price of college education. These are both priced way to high.

POP

Yea I live near the area in the article, my friend just bought a house that used to go for 500+ for 300.