Quantcast

More real estate doom and gloom

kidwoo

Celebrating No-Pants Day
Aug 25, 2003
27,296
4,799
In my pants
It just keeps getting better :rofl:

adding more fuel to a housing boom that is already the hottest in 14 years.

Huh. Wonder what was going on exactly 14 years ago with real estate? I wonder if anything bad ever came of it. Oh well, no way to know!

Anybody remember all the japanese 'investment' in american real estate in big cities in the 80s under Regan? And subsequent anti-asian racism of course..... Every morning news show obsessively reporting on the dollar/yen exchange rate is mostly what I remember. Learned a little later why.

Part of what enabled the drumpf family to start building in manhattan btw.....
 
Last edited:

Westy

the teste
Nov 22, 2002
42,925
8,734
Sleazattle

That doesn't seem too far off from what I saw when I was considering moving to LA before the bubble burst in 2009. My company wasn't willing to give me a raise because the average salary for my job was lower in LA than it was in po-dunk Virginia where I bought my house for $118K.
 

mandown

Poopdeck Repost
Jun 1, 2004
16,062
3,151
Transylvania 90210
That doesn't seem too far off from what I saw when I was considering moving to LA before the bubble burst in 2009. My company wasn't willing to give me a raise because the average salary for my job was lower in LA than it was in po-dunk Virginia where I bought my house for $118K.
I was looking at stuff sub-$600 a few years back. My budget was lower but I wanted to see what I’d get if I stretched, trying to understand what the price points had to offer. The places I saw for $500k are now going for $800k. There’s nothing I’d consider now in the areas I was looking. I’m completely priced out of owning anything I’d enjoy in this town.
 

kidwoo

Celebrating No-Pants Day
Aug 25, 2003
27,296
4,799
In my pants
america can’t compete in the export markets (except for entertainment) so we gotta invite people over to buy our dirt.
No invite necessary. We're so devoid of substance we can only invent financial products to maintain something of value. That's why NFTs came about. Real estate is the original bitcoin. Fantasy masquerading as a product.

The result is that when we do come to the 'next big thing of value' it's so fucking outrageous and exaggerated, it becomes a good investment opportunity to other nations who long ago phased out that kind of horribly destructive risk.

We of course, never learn lessons so this shit just keeps happening.