There is also alot of bubble mentality still flying around too. A “dont miss out, get rich now” mentality. A friend who couldnt save a dime if they glued it to his forehead told me this past weekend that if I dont buy a house within the year I am an idiot and gonna miss out.
My response was (literally) “miss out on what? a chance to flush my money away?” ( I was drinking and didnt feel like going over high school econ again)
-I have a hunch based on nothing (cept talking to people) that alot of the purchases we see in the lower areas are people who are banking on this being a short term thing and a “J” shaped recovery. The idea that houseing can go down for years just doesnt regester with them.
