who can say? everybody’s bet so big on inflation, maybe we’re all about to get the biggets contrarian lesson in 100 years. What if $100 in 5 years is worth 3 x what it was in 1995? I mean, can you envision a future where a job making 100k a year is incredibly rare, where people are fighting for 10 dollar an hour jobs? if so, why cannot a house be 42,000 in tememcula? Why cannot it be 175k in carlsbad? it seems impossible because we’ve all been raised to believe inflation is as inevitable as death and taxes. If there’s been some fundamental miscalculation on that — maybe low low prices aren’t dreams. It’s just (a) you probably wont be able to afford it and (b) there will be some social chaos along the way. Comparing prices to rents current is specious because the rent could be 150 a month in the future — or some similar numebr that soudns absurd based on current conditions. yeah sure, if rent stayed the same, of course it would look silly. I am not saying I would bet money on this outcome, but i wouldn’t be shocked to see a very veryvery poor america in the future. and husing values and rents that match our actual level of wealth — that is low low pricing. I am not saying it’s liekly — just that i woudl assign it a less than trivial percentage of occurring.
