[quote=deadzone][quote=sdrealtor]Condo market up by me significantly stronger than sfr market at the moment. Virtually nothing under 800k. Just closed one 10% above asking, owner occupant, all cash. Yet again you don’t understand what’s going on[/quote]
All cash? Obviously an investor, someone has to be the bag holder when the market crashes.[/quote]
Where do you get your ASSumptions from? Someone buying at this level is most likely not an investor, because it won’t pencil out as a rental. This is owner occupied mostly likely.
The astonishing baseless ASSumptions is just hysterical, because sorry to say this, it sort of demonstrates lack of financial common sense.
And theoretically, there is no bagholding if the person holds on to the property indefinitely…
Yes, some people have $800k cash. I know that’s hard to understand, but there’s plenty of people who do. Probably from the sale of a previous house or stocks or both. In that case, it’s also not bagholding. Because whatever equity paper loss on this property was probably offset by the equity gain in the previous one, which you also don’t understand.
