Yeah, It’s a bubble

Feb 17 30 Comments

Remember that scene in the Big Short where Steve Carell talks to the stripper with 5 houses and realizes the housing market is going to crash? Saw this on Redfin today and got the same feeling. Gonna take that downpayment money and buy puts.

https://www.redfin.com/WA/Bellevue/10234-NE-20th-Pl-98004/home/506287

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 TOP 30 Comments
  • iRise
    uRise

    iRise

    uRise
    Ughhhh. What a disgusting place. Just looking at it made me 🤢.
    Who would pay almost $2M for this crap. They have to fully demolish and rebuild
    Feb 17 1
    • Meta
      public2

      Go to company page Meta

      public2
      Because it's only 2m and you get to build your custom home or flip it. The only other house for sale in Clyde is down the street listed for 5.8.
      Feb 18
  • Reddit
    kualua

    Go to company page Reddit

    kualua
    No it’s not a bubble. This is driven by fundamentals - supply and demand. The supply is very low and isn’t going to increase rapidly any time soon.
    It will probably stabilize in a few years and that’s when prices will lower too.
    Feb 18 3
    • At 1-2M Bellevue prices, yes, housing is coming because people are greedy AF. There's no way builders are looking at this and doing nothing.
      Feb 18
    • Netflix
      shalimar

      Go to company page Netflix

      shalimar
      If developers could do it, they would have already.

      A change would require significant political upheaval, but both democrats and republicans will protect homeowners wealth/value over positive housing change so I have zero faith.

      I’m a homeowner and I support housing construction, but most don’t.
      Feb 18
  • Apple
    facemasher

    Go to company page Apple

    facemasher
    Hey don’t make fun of my home like that
    Feb 18 0
  • Microsoft / Eng
    NotInMsft

    Go to company page Microsoft Eng

    PRE
    Intel Corporation, Hitachi Data Systems
     NotInMsft
    I don’t know about the market but this house is definitely a horrible bubble
    Feb 17 1
  • Has anyone paid close attention to Redfin Estimate and the graphs? For estimates, it almost feels like they pick out random numbers out of thin air to support whatever fits the narrative. And as far as graph is concerned, I’m pretty sure they fudge past numbers as well
    Feb 18 2