Buy Now! Your return on the most expensive houses will be outrageous!!
Larger price appreciation means more room to drop. I consider the higher housing to rent prices to be an ownership bubble that will likely pop in depression. The unaffordability in these “superstar” cities has recently been causing people to take their money out of the areas rather than an influx. While the rich are getting richer, there are increasing fewer of them, so ultimately only the top property will show extreme appreciation.
I think the high end will fall the hardest, just as high end economic markets suffer the worst in recessions.
