Robots, Rabbits and Sarcasm.
Come for the snark - stay for the random punctuation and nonlinear narrative. Don't say I didn't warn ya.
Tuesday, June 05, 2018
I'm the biggest housing bull on the planet, but it is completely out of the norm for houses to double in price in 5 years. The historical standard is they double in roughly 10 years. Not even during the bubble did prices appreciate that much.
It's the craziest looking bubble I've ever seen. On one hand there is a pretty significant shortage entrenched by low interest rates. It's the greatest gift people have ever gotten. But people are people and I"m sure they will find a way to screw it all up. I mean a house just sold in SF over 20% over asking. Even I have a hard time feeling like that isn't frothy. Makes the good old days of the housing crisis seem tame.
I gave these out to friends back in 2005 before anyone really had a clue about the residential real estate credit arbitrage game: Mr Housing Bubble.
ReplyDeleteMaybe you can still get one. :-)
It's the craziest looking bubble I've ever seen. On one hand there is a pretty significant shortage entrenched by low interest rates. It's the greatest gift people have ever gotten. But people are people and I"m sure they will find a way to screw it all up. I mean a house just sold in SF over 20% over asking. Even I have a hard time feeling like that isn't frothy. Makes the good old days of the housing crisis seem tame.
ReplyDelete