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[–] • 5 pts

It's not a housing bubble this time, it's inflation. Too many dollars chasing too few goods.

[–] • 2 pts

Does that mean I can’t buy a house because the bubble won’t collapse?

[–] • 1 pt

Yes. There's not going to be deflation to bring the prices back.

[–] • 1 pt

The lockdowns caused a dramatic drop in supply of goods and services (note widespread shortages). Stimmy checks and UBI-esque unemployment schemes caused a simultaneous increase in the supply of dollars.

I expect nominal real estate prices to surge as the money printer goes brrr.

[–] • 3 pts

Of course it's going to happen again. Nobody was punished last time. There was a popular housing bubble blog that I followed that had a counter for the number of days Angelo Mozilo (countrywide ceo) was free. He still hasn't be prosecuted. Instead, they've taken everything they've learnt from the first bubble and will leverage it to make this bubble inflate bigger and faster than the previous one.

[–] • 1 pt

So, homes are going for $25K over asking in my area. $100K over asking the closer to the shore you get. I live in So Cal. Nothing has changed other than the regime. I agree that this is an inflation caused issue.

[–] • 1 pt

I close on two properties this month :(

Please don't burst yet

[–] • 1 pt

i bought a condo a year ago

its now worth 75k more than what i signed for

a fucking year later and its "value" has gone up 30%

[–] • 1 pt

Gonna be a big one again.

[–] • 1 pt

While I think inflation has something to do with this one, flight from the cities, people spending more time at home and improving theirs, foreign investment money, black rock style investment company purchases, and people buying homes to put on Airbnb are skewing much of this.

[–] • 1 pt

I checked Zillow to see how my house was doing and it said it went up 29k in the past 30 days. That’s most likely due to so many moving here and buying houses sight unseen. Fucking northerners. That will eventually turn into raised property taxes. I’ll be staying here at least another 5 years.

[–] • 0 pt

Zillow is a TERRIBLE price indicator--particularly for condos and co-ops.

[–] • 1 pt

When corrected for inflation the bubbles are of equal size.