well bless that guy's heart. i still love ya, 'old man' tcoat.
the 'housing market' plays differently in every metro area but in general
housing prices are up 6.6% year on year, along with 68 straight months of price appreciation. housing inventory,
while up in certain markets, is still trending downward and with new housing starts difficult to ramp up in any rapid fashion in any metro area due to zoning, nimbyism and a whole host of other factors - that tends to keep driving prices upward as supply and demand must always meet. this combined with economic factors pointing towards rising
mortgage interest rates will cause the double whammy of making houses purchased in the near future more expensive to own, but also the rising
inflation rates forecast as part of the same macroeconomic trend means that it will be 'cheaper' to hold current debt as opposed to future debt. this doesn't even take into account longer term effects of technologies such as airbnb, which make it easier for folks to be able to hold onto and rent out properties once they've been outgrown - or that these technologies
tend to raise rents and home prices.
anyone who can correctly and accurately pinpoint a ceiling on house prices certainly has the opportunity to make literally unlimited amounts of money shorting the housing market but at least one of the larger 'bear' funds out there doing exactly that right now is
down about 66% off its historical peak.
to each their own, but ill say this:
- fun cars are a hobby for most people
- to those that can or want to spend their resources doing that, more power to them, and i'll certainly return to that when the time is right
- there certainly isn't anything wrong with renting
- nor is there anything wrong with letting other people's well reasoned personal choices be well and good enough for them on their own merits