I know if I owned a lot of real estate in prime areas here in California (Bay Area, LA, SD), I certainly wouldn’t be in a rush to sell. This is why when some folks here say things like a “bubble” is just waiting to pop/collapse, I think that’s very unlikely and it’s more wishful/hopeful thinking since they may have missed out or now have more cash to buy more.
In the short term, Rich has ran the numbers so there isn’t a bubble compared to rents and inventory…
Of course, this doesn’t cover a lot of areas some folks may be looking at (like NJ), but as an asian myself, I don’t think I could ever live in some parts of the country, let alone outside of CA. There’s the food/dining problem, groceries, and certainly discrimination when you live where you are the minority. Just don’t see a lot of the asian FOBs will ever buy in say, East or South county in SD.
Unlike the Japanese from the 80s where they imploded, the Chinese and Indians actually have a desire to leave their country I think so as their kids grow up, they’d want to 1) shelter their assets from their home country and 2) attend college here.
At least my parents have a lot of places so maybe it’ll work out for me in 30 years also.
