This morning, for fun, I decided to hop on the real estate website 'Zillow', to check out how bad the housing prices are in San Diego. And by "bad", I mean OUTRAGEOUSLY PUMPED UP prices! Here is a snapshot of a 5 bedroom, 4 bath house in Clairemont, San Diego.
Now, 5 beds sounds like it would be a HUGE house, but the house is barely 1800sq ft!
Don't get me wrong. An 1800sq ft home is a decent living space, but LOOK at the price movement since 1999. How in the world can ANYONE say thay we're not in a housing bubble? In 18 years, this home has doubled in price EVERY. SINGLE. YEAR!
Just look at what it sold for just 3 MONTHS AGO! 700K. And now they're aking for 195k MORE than what it was purchased for just 90 days ago.
I CAN NOT WAIT until this whole thing collapses! I'm so sick and tired of everyone living in "LaLa-land". It actually disgusts me how many people think this is REAL. I have family who I've brought this subject up to who reply, "I hope prices don't come down, I keep getting richer". To which I reply "you have no idea what you're asking for".
These people do not realize that without wages growing along with housing prices, this is all a FANTASY. All drummed up by banks pumping up the markets with their funny money, created by their endless MONEY PRINTING.
How much longer can this go on? Real estate is starting to buckle all over the world, and STILL the sheeple believe that this is the way of life. That it will KEEP this pace...FOREVER?
Even a 6 year old can understand what 'value' and 'inflation' is. Why is it that full grown "adults" cannot?
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