Our own country will go through just as large of a real estate bubble that's been brewing for 60 years. People don't seem to understand millenials aren't having children or large families, and the U.S is one of the least densely populated nations on earth. The only reason we are seeing such a crunch is because we've hardly built any new real estate in the last 10 years and millenials and gen z are finally getting 2% interest loans and are stupid enough to buy into a 30 year mortgage, and just like having amnesia, completely forgetting what happened in 2008.
Don't get me wrong, many areas, despite being over inflated, still offer fair prices on housing, but everywhere else is a total bubble and it WILL permanently pop in the next 10 years as it did in Japan, which oddly enough use to be the hottest real estate market in the 80s and 90s due to having so little space.
What do you see the repercussions being in the US real estate market at the macro and micro level? I’m in a hot area at the moment, but comparative to other areas of the USA prices are still attractive. People are flooding into my area because of the low taxes and prices. Sadly mostly are blue-haired liberals moving into my specific area although my state (NC) is mostly red. I’m currently shopping for a second home (I rent the other home) and I’m considering waiting 6-12 months to see if things cool down in my area. Right now it’s a sellers market with nearly all single family homes selling for over asking with multiple offers.
Our own country will go through just as large of a real estate bubble that's been brewing for 60 years. People don't seem to understand millenials aren't having children or large families, and the U.S is one of the least densely populated nations on earth. The only reason we are seeing such a crunch is because we've hardly built any new real estate in the last 10 years and millenials and gen z are finally getting 2% interest loans and are stupid enough to buy into a 30 year mortgage, and just like having amnesia, completely forgetting what happened in 2008.
Don't get me wrong, many areas, despite being over inflated, still offer fair prices on housing, but everywhere else is a total bubble and it WILL permanently pop in the next 10 years as it did in Japan, which oddly enough use to be the hottest real estate market in the 80s and 90s due to having so little space.
What do you see the repercussions being in the US real estate market at the macro and micro level? I’m in a hot area at the moment, but comparative to other areas of the USA prices are still attractive. People are flooding into my area because of the low taxes and prices. Sadly mostly are blue-haired liberals moving into my specific area although my state (NC) is mostly red. I’m currently shopping for a second home (I rent the other home) and I’m considering waiting 6-12 months to see if things cool down in my area. Right now it’s a sellers market with nearly all single family homes selling for over asking with multiple offers.