what we needed was a marshmallow test for the housing market.
actually, there was.
people were told you can either buy a house at the peak or wait 5 years and you’ll be able to buy 2 houses for the same price.
some people didn’t listen and bought at the peak.
those who did wait got their reward.
what really drives this home is I actually know someone that bought at the peak. foreclosed, and became a full blown alcoholic from the whole process. how’s that for anecdotal evidence.
