Is it just me or does other people also have that gut feeling that with the current happenings around the world, inflation, rise in gas prices, invested optimism on the stock market and the ~40% increases in the housing prices in the last 2 years can all blow up big time. Just tell me, we are in the middle of a pandemic, and other than what changed for us professionally in the last 2 years that had lead to this frantic buying. Technology has been developing fast and we can even predict a future where a house could be built in a day and we can form a BayArea or Austin anywhere in the world. Fwiw my offer on a house got accepted in Pleasanton but I didn’t go ahead because of this strong feeling. TC~320 PS: I’m not in a depression or in a position to not afford anything, it is just my gut feeling. #Future#housing#change ##mortgage
What is your question, exactly?
It’s my Rant. Or how is everyone bullish about the future
No one can be bullish about the future , this is clearly a bear 🐻 market ! And hence we perma bulls have a good chance to DCA all our investments and HODL! Market will fall and crash hard in coming months and hence provides a buying opportunity!
Yes I think housing crash is coming but it probably wouldn’t matter in a long run
I do think housing will have some correction. Some of the folks are buying house out of FOMO to avoid higher interest rates. Nobody knows when, but current pricing is unsustainable for future buyers who also has to deal with inflation.
Yes I would better buy a house on Mars in 10 years it gonna be 10x Elon has invited me for open house
Calls on Nokia shares because they’ll provide 5g for NASA on moon.
The world is always changing. Wouldn’t you want a nice house for your family so you have a comfortable place to eat your popcorn?
It's called the great reset
I believe what you are describing and what we are all experiencing now is all part of the changing world orders - internally in the US as well as externally in the world power rebalancing. If you are interested in this subject, I recommend reading Ray Dalio's book "the changing world order". There's an abridged version on YouTube. I find his perspective helpful to see things from a macro scale, especially helpful for us who are used to a silicone valley centric POV.
We think same especially in trivalley we’re starting to see inventory sitting longer and price drops.
What about the 70s when US left the gold standard and inflation was through the roof and interest rate hike was mind blowing?…. Overseas war does not matter, America is lucky to be geographically isolated. That being said, your hunch as Trivalley is probably right, it’s too far away from everything. The best bet for housing is always Penisula with good schools. I personally think the reason why everyone flocked to housing is because they saw what the gov’t did in time of crisis, home owners were protected, period. No evictions, no foreclosure… seems like quite the guarantee no? If something catastrophic happens you can still stay in your house without paying mortgage. What a deal.
Yes back in 1970 inflation was not that big of a deal because many had their own home and the concept of renting was not very prevalent. People also had single income and also people worked on essential things for life like food, automobile or appliances. Now people are working on meta verse, self driving tech or apps which are either non essential or things which we aren’t sure how future would react.
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