Originally Posted by earlybrd
Originally Posted by jackmountain
Originally Posted by earlybrd
The real estate bubble pop will look like a atomic bomb compared to 2008


This isn’t 2008. If the housing market crashes beyond isolated urban pockets that sane people are fleeing, then the broader economy is fugked.
There is no inventory of homes for sale or rentals in our area and city slickers are flooding in.

Luxury items will be first. Then the automobile market, then anything that’s not necessary to live. Most peoples budgets are barely going to allow housing, food and fuel by Summer and Fall will be worse.
If you’re not prepared or preparing you should be.

For sure lots of people from high rent areas and COVID lockdowns moved out the rental industry is booming locally can’t build apartment buildings fast enough but the folks buying the $500k houses worth $200k is where it will pop


The problem is, those $500k houses aren’t worth $200k anymore. Inflation isn’t transitory. If I had to guess, that $500k is going to look like a bargain by this time next year. Burger flippers making $15/hr can now afford $1000/mo rent instead of the $450 they could afford last year when they were making $8.50/hr. Welcome to the new normal. Low interest debt is the smartest play right now.