Maybe he plans on living in this home for the rest of his life, come hell or highwater. Even if he took a paycut or changed careers, he could still afford his mortgage.
Maybe he didn’t buy it to make money off of it or improve his portfolio- maybe he bought it to live in.
I too think that this market is insane, but not because if I were to buy a house tomorrow it would cramp my wallet’s style. I think it’s insane because it’s putting the security of owning a home out of reach for our next generation.
