[quote=deadzone][quote=an][quote=deadzone]And yet you keep deflecting the fact that RE is on fire all over the country. Do you really believe that San Diego is somehow immune to the bubble bursting? Yet so much of the wealth and RE gains in San Diego are a direct result of the bubble inflating?[/quote]
So, when do you expect this bubble to pop like 2008?[/quote]
Who knows when it will pop. But a hell of a lot of signals are pointing to the fact that it is leaking serious oil, right now. If you can’t see them you are blind.
Fed publicly stating since Nov that they will begin tightening their balance sheet and raise interest rates starting in March. Large public RE companies getting absolutely ass pounded in the markets. I tried to point out Zillow but the usual excuses that the problem was isolated to Zillow, as if they don’t know what they are doing. Well obviously that’s bullshit. I told you guys to watch out that their competitors would soon follow. Today Redfin and Opendoor both set 52 week low in the stock market. Investors are sure seeing the end of housing bubble.
So the signals are there and they keep getting stronger.[/quote]
Who cares. For some there’s little to low mortgage. And for the others they are locked into a historical 30 year between 3-4%….during that 30 years they have the opportunity of arbitraging their money elsewhere while not worrying significantly about higher living costs especially with inflation..it probably would cost them close to the same monthly to rent, if not more. I don’t envy people trying to find a rental close to Sorrento Valley, especially if some of them now need to return back to work in a hybrid model. There’s close no inventory for purchase or rent. And even rentals are ending up in a bidding war. Too bad I can’t convince myself to be a dick landlord or I’d be jacking up rent every year.
