Yes, I have that same experience. As my friend explained to me, “telling someone their house will go down in value is like telling them their spouse is cheating with the neighbor”.
A house is a security blanket, and an emotional issue. That’s why so many people buy instead of rent when renting is half the price, why sellers won’t lower their price by even $5K (because their house value reflects the owner’s own value and if the house is worth less then the owner is worth less).
Housing is a fincial security too. People are counting on it for their retirement. They cannot continue life as they know it if their home’s value drops and they are upside down or they lose their piggybank.
Regarding inflation and the weaker dollar – how can real estate go up when the dollar goes down? Only if foreigners are buying houses? In the past, rising inflation led to higher housing prices only because wages rose too. But in today’s global economy, that’s not happening. So I don’t understand the connection.
I think it’s good to tell people that housing prices will go down. You may save someone’s retirement plan. I’m glad my brother persisted in telling me about this bubble. His constant comments made me start researching the topic, and that’s how I found piggington’s data. I believe I am helping people by at least planting the seed that their financial security is enhanced if they sell their house now, at near the peak. It’s my duty to help people in this way. Say it once to acquaintances, twice to friends, three times to to family, and then let it drop.
