I tell my brother(who now owns 3 houses, 2 of which he bought in 05/06) that the markets tanking. He never even bothers to look and really doesn’t seem to care. Though he makes about 200k a year, and his girlfriend( a charge nurse) makes a good living(shares the mortgage on the 2 latest purchases) he’s in hock up to his eyeballs. Because he bought his first house in ’90 at the height of the last bubble…..135k(’90)now worth about 600k(maybe a little less).
How can we speculate that there will be a depression type downturn when there are people out there paying these amounts and don’t even care keeping this market afloat?
