Also, most of the people that will get crushed are the novice gamblers of meme stock and crypto that was hoping for that one hit one wonder get rich quick trade….[/quote]
And yes I am rooting for these douchebags to get destroyed. But this goes way beyond just meme stock and crypto investors. It goes heavily into real estate investors, flippers, etc. Same get rich quick douchebags. Funny how you guys are quick to criticize these investors when it comes to crypto, yet you have no issue with those flipping and manipulating RE. Perhaps as a RE investor yourself, you are happy that their actions are raising your net worth. Pretty selfish but typical. Well get ready because the RE investor/flippers are about to get destroyed too, the Tech/Crypto crash is just stage 1.[/quote]
And you dont understand flippers either. The ones really doing it have built up so much capital they are playing with house money now. Even if a property were to drop 20 to 30% while they were holding it would barely be a blip on the radar. Houses dont go to zero dumbass[/quote]
You apparently don’t understand leverage, or the concept of margin calls. Many of these “all cash buyers” are actually borrowing the money using their existing house(s) and/or stock portfolio as collateral. A 20-30% drop in RE will be devastating to many investors. The 30% drop in Nasdaq is going to have serious side effects in RE market too. Plus the bursting of the tech bubble in gneral. Twitter and Meta already announcing hiring freezes, which is really the first step towards layoffs. Within a few months there will be hiring freezes and layoffs throughout the industry.[/quote]
lol what you don’t understand is who the flippers are. Sure there are some small time mom and pops but I would say that well over 80% off flips are by well funded high net worth organizations. You want to believe it’s some highly leveraged greedy guy but that’s just not reality. I deal with these Flipper groups and I’m contacted by a few every single day . they are anything but poorly capitalized. And even many of the small Time guys who’ve done 3 to 5 a year for the last 5+ years are sitting on a few million dollars of cash profit. You really have no idea how this works
