Quote:
Originally Posted by zx10guy
Yes, demand is rising. But I think it's fueled by irrational exuberance. Yes, supply hasn't kept up with demand over the years. But you haven't explained why in one year, all these buyers just woke up and had to jump in now to get a home. These people are living some place WITH roof over their heads. Per my post, I don't see any of these new buyers being from the pool of homeless people that NEED a roof over their heads. Certainly, the demand in previous years doesn't justify the double digit acceleration we're seeing now that literally has happened overnight.
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This. My house went from $200k in 2011 to worth around $350k in 2020 so like $150k increase over NINE years. Now it went from $350k in 2020 to like $500k in 2021! Plus I heard another in my community sold for $600k! That the same increase it had over nine years in just ONE year or less!
