3 ms·

Hasn’t happened in London yet, or Hong Kong or Bombay or any other world class city open to the elite. The wealth my change hands, but the number of elites is m

Hasn’t happened in London yet, or Hong Kong or Bombay or any other world class city open to the elite. The wealth my change hands, but the number of elites is monotonically increasing. It doesn’t matter if none of the locals can afford it.

seanmcdirmid 7y ago
Property crashes do happen from time to time. Even in HK, Mumbai, London, etc...
- glitchc 7y ago
  Other than minor blips, long-term trend is positive. Check out the ten year trend at [1] [1] https://tradingeconomics.com/hong-kong/housing-index https://tradingeconomics.com/hong-kong/housing-index It may be an unpopular notion or maybe folks in SF are hoping to time the market, but the general trend across the globe is increasing price in desirable locales, barring natural disasters. So, yes, if a major earthquake hit SF, there would be a price correction :)
  - seanmcdirmid 7y ago
    SF area was pretty down for more than a few years in the 90s (almost a lost decade from a gain perspective). Yes, it is temporary but even a small blip is enough to take out most leveraged speculators. HK is an especially speculated and manipulated market, only experts should play there.
  - helen___keller 7y ago
    > Other than minor blips, long-term trend is positive. Check out the ten year trend The entire global equities market has been going crazy for the past decade, in no small part due to the historically low interest rates. Claiming that housing prices will keep going up is like claiming that the stock market will keep going up. Even if it is true in the long run, you can have recessions or depressions, some that may last decades (see Japan's stock market since the 90s). Bull runs don't last forever. Rental yields are abysmal in top cities, sometimes barely enough to cover the unit's tax burden & maintenance. If equities go down, so will the value of these units.
    - glitchc 7y ago
      Land ownership has a long-term positive growth trend going back a thousand years in western society. It’s as stable an investment as one can make. Average rate of return in North Am over 50 years is about 5% per year.

seanmcdirmid 7y ago

Property crashes do happen from time to time. Even in HK, Mumbai, London, etc...

glitchc 7y ago
Other than minor blips, long-term trend is positive. Check out the ten year trend at [1] [1] https://tradingeconomics.com/hong-kong/housing-index https://tradingeconomics.com/hong-kong/housing-index It may be an unpopular notion or maybe folks in SF are hoping to time the market, but the general trend across the globe is increasing price in desirable locales, barring natural disasters. So, yes, if a major earthquake hit SF, there would be a price correction :)
- seanmcdirmid 7y ago
  SF area was pretty down for more than a few years in the 90s (almost a lost decade from a gain perspective). Yes, it is temporary but even a small blip is enough to take out most leveraged speculators. HK is an especially speculated and manipulated market, only experts should play there.
- helen___keller 7y ago
  > Other than minor blips, long-term trend is positive. Check out the ten year trend The entire global equities market has been going crazy for the past decade, in no small part due to the historically low interest rates. Claiming that housing prices will keep going up is like claiming that the stock market will keep going up. Even if it is true in the long run, you can have recessions or depressions, some that may last decades (see Japan's stock market since the 90s). Bull runs don't last forever. Rental yields are abysmal in top cities, sometimes barely enough to cover the unit's tax burden & maintenance. If equities go down, so will the value of these units.
  - glitchc 7y ago
    Land ownership has a long-term positive growth trend going back a thousand years in western society. It’s as stable an investment as one can make. Average rate of return in North Am over 50 years is about 5% per year.