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Too Many Buyers

February 18, 1990

In your letters and other columns, there is often a comment to the effect that ". . . houses are so expensive no one can afford to buy." That's not correct, they are so expensive because too many people are buying homes. If buyers had resisted when the median price was near $100,000, the median price of $200,000 would never have been reached. It is demand for houses that makes prices rise.

Of course price increases are artificially accelerated when asking price is mistaken for value.

JAMES T. HUMBERD

La Quinta

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