woo,that is what I keep thinking,it has no ending? They are digging a Hole for themselves,on behalf of all of us. They are getting Rich,but what do they do when no one is there to do the work that makes them money?It's all disgusting
I was talking with my partner last night as we're looking at houses down the hill (reno/carson city) which used to be the cheap option and they're all way more than what she paid for this place in 2005 (another 'peak' period). Graphics like this show a little bit why. Income vs. home price. The ones at the bottom, where your area and mine certainly would fall show one thing: people that live and work in these places aren't the ones buying the houses. Something I've bitched about for a long time in this thread but this is millionaire/billionaire second-tenth homes and VC investments eating up housing.
This shit can't last. But given this inflation is for different reasons than 2008 and all these investment companies built a model of eating up housing in the recovery to either control prices in neighborhoods that they all own, or create astronomical rentals, I don't see how this ends.
Am I makin sense to ya?
Avy