It is insanity out there. This article mentions one property that went up 96% in just 3 years! Another property 130% rise in 4 years!

Oh, by the way, its a little hard to see, but the article is from July 3, 1979

When inflation was 1-2% and housing was going up 7-8% it “couldn’t last” because housing goes up on average a little more than inflation, not 4 times it. So now inflation is 7-8% so should we expect housing increases of 10 or 20-30%? ps. As mentioned in my previous posts. A cabin I bought 21 years ago went up 400% (to 5x my purchase price to be clear.) it wasn’t a big blast in the last 2-3 years, though that helped, it’s just compounding inflation year over year. My mom’s small mpls home was $20k fifty years ago. Now it’s a little over $320k, a 15x gain. Explaining to people today that 90% of houses will be over a million dollars in 20-30 years is as hard as it woulda have been to tell my mom that when she paid $20k. (Pretty good return on the $500 downpayment they only had because my great grandmother died and left the $500 to them.)

What are your thoughts Russell?

If you sell where are you going to go? Rents are high everywhere and increasing. If you own your home you have a fixed mortgage payment. If you sell and try to time the market, when will the rebuy be? 1yr, 2yr, 3yrs from now? Nobody knows. I am open to all scenarios.

The Housing Bubble: Will It Really Burst?The Housing Bubble: Will It Really Burst?

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