Neighborhoods*

San Diego is one of those highly desirable markets that I wouldn’t expect to see a huge correction in, especially the beach towns like PB, OB, MB ect

I used to live in Point Loma. IMO San Diego’s housing problems stem from way too many short term vacation rentals and NIMBYs n places like Bay Park fighting tooth and nail to keep up-zoning from happening. A tertiary factor is the California Coastal Commission refusal to allow tall coastal buildings

We’ve never seen a demo shift like this before so who knows….maybe foreign investors come in and swoop up the excess inventory. Maybe the interest rates drops to 3% again and the gravy train keeps on rolling. 🤷‍♂️

REITs will be affected as well. Lower real estate value means less renters and lower rents. My guess is we’re looking at a 20-30% correction most markets and 10% in the most desirable areas. So if you’ve got your $ in a REIT I would say you may be looking at a 15-20% haircut in the next few years?

If y’all don’t think this ends with them trying to force black people back into these jobs you should go read the “1st they came for the immigrants….” parable again.

Just wait until people realize it’s not just their primary residences in the burbs but their 3 rentals in the city and their vacation home/condo at the beach or in the mountains all hitting. Boomers currently own $20T in real estate. 5-10 years from now the market is going to be absolute chaos.

So it’s working exactly how it was meant to….benefit the top’ish 30% and screw the bottom 70%.

There are 500k more sellers than buyers and that’s before the boomers really start dying off. This isn’t just a correction that can be fixed with a 5% mortgage. We are in the beginning of a demographic shift where there are many more people dying and exiting than entering into the housing market.

So he’s blaming it on Biden then?

There’s currently 500,000 more sellers than buyers in the United States and boomers, who are dying at 2k/day, own $20T worth of real estate. Are we really sure that in 5 years we aren’t going to be drowning in inventory?

Or dogs….Only the deranged don’t like dogs.

Have they always been able to trade stock and cash in on their positions?