You can do back of the envelope calculations and confirm this. There's no way "fundamentals" alone are responsible for the increase in housing prices because wages and demand among first time buyers isn't high-enough.
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Word.After reading the history of that property I would imagine COVID was probably the last straw for the owner.
Sounds like he was being pretty cool but people took advantage. Rather than turn into a total dick he's chosen just to bail instead, and probably take a nice profit.
Even if I had that money, considering the history, I don't think I'd want to own it.
FUD FUD FUD, FUD FUD FUD!!!Everyone always assumes they will have their jobs and high salary when the recession hits.
Seems like this is another pump-and-dump. Will we ever learn?
What is FUD about what he said?FUD FUD FUD, FUD FUD FUD!!!
gotta pick yourself a recession proof career.Everyone always assumes they will have their jobs and high salary when the recession hits.
Reliable
How is the reality of an economic slow down the same thing as FUD?FUD FUD FUD, FUD FUD FUD!!!
Fear, uncertainty, doubt. It hits all of those marks. Something can be FUD and still be true. Plenty of people kept their jobs and pay during the last downturn.What is FUD about what he said?
And you seem to jump and cheer every time there is negative news in any financial sector that confirms your bias. Eventually people like you will be right- but how much money will you have left on the sidelines parking it in cash for so many yearsYou seem to shout FUD at any negative statement regarding the economy.
Because you say it with a tone that suggests that everyone will take a bath on all of their income and investments and end up borderline homeless. Most of us will do just fine in the short and long run.How is the reality of an economic slow down the same thing as FUD?
He's said nothing like that.Because you say it with a tone that suggests that everyone will take a bath on all of their income and investments and end up borderline homeless.
Based on what data?Most of us will do just fine in the short and long run.
25% of the workforce was unemployed during The Depression.He's said nothing like that.
Based on what data?
"Stock market always goes up" isn't an answer btw
This is a real estate thread. Real estate is even more consistent in upward trending over time, especially in desirable markets. There will always be contractions in the luxury and low end of the market during a downturn, but the median bread n butter 2-4 bedroom SFHs will do just fine."Stock market always goes up" isn't an answer btw
This really depends on the time-scale. Bring data or this is just your doctrine.This is a real estate thread. Real estate is even more consistent in upward trending over time, especially in desirable markets.
That depends on how long this financial manipulations continues. In the Aughts, the financial manipulation was making a lot of bad loans then bundling them as CDS and selling them to greater fools who bought them under dubious assumptions that turned out to be false.There will always be contractions in the luxury and low end of the market during a downturn, but the median bread n butter 2-4 bedroom SFHs will do just fine.
The inventory is low because large banks are now manipulating the market by paying well over ask. Perhaps this can keep up indefinitely because the Fed has a money printer, it just won't continue at a price most people can afford. If the banks are now going to own our housing forever, then you are correct, but it won't be a country we want to live in.You guys keep forgetting the supply issue- supply and demand still rules the roost at the end of the day. Low inventory, rents are rising, and we all need a place to live.
If I'm not mistaken housing only deviated massively from the CPI over the past 20-30 years.This is a real estate thread. Real estate is even more consistent in upward trending over time, especially in desirable markets. There will always be contractions in the luxury and low end of the market during a downturn, but the median bread n butter 2-4 bedroom SFHs will do just fine.
You guys keep forgetting the supply issue- supply and demand still rules the roost at the end of the day. Low inventory, rents are rising, and we all need a place to live.