“8xGRM”….you are kidding right? Hardly, there are plenty of places where you can buy things in a decent area for this, especially once house prices deflate to a more realistic level. It all depends on your view of history. If you see as I do that we have lived our entire lives in an inflationary bubble, then 8xGRM is an artifact from a bygone era. If you see deflation in our future, even that might be a bit expensive.
At this point houses are merely highly leveraged gambling devices. If inflation keeps up and you keep your job, you win. If deflation takes hold and you bought in the last 5 years, you’re screwed.
Either way overall housing returns to the same formulas time and again. Maybe Sd won’t return to those types of numbers, I could be totally wrong there, but I certainly don’t think its crazy.
