I am more convinved that selling and renting is a sure thing, than I was in 1999 of the tech stocks collapsing.
The tech stock bubble was my first experience of an asset bubble. I did not participate in it, until the end, when Lucent was $5/share. I couldn’t believe that rational people lost all rationale.
The psychology and thinking of anyone doubting that nominal home prices will collapse is the same as those doubting the tech stocks could go down.
The future cannot be proven. I can’t prove that housing prices will go down. I can only make parallels from the past, tell you why this time is worse, and hope you listen.
As you can see,even someone as well-read on this housing bubble as zk, is not convinced enough to sell his own house. If only high schools would teach economics classes, with a 2 week section on asset bubbles, then this wouldn’t seem like such a remote possibility. zk has been so programmed by the RE industry, that housing prices cannot fall, that even all my logic, data, and charts, cannot change his thinking.
