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So how do you feel about buying a used car right now? (i.e. buy one at this moment, after 40% YoY appreciation, because who knows what tomorrows price will be
by harambae 5y ago
So how do you feel about buying a used car right now? (i.e. buy one at this moment, after
40% YoY appreciation, because who knows what tomorrows price will be) And if it's not good advice for used cars, why is it good advice for a house? After all, there's a fixed supply of platinum for catalytic converters and they're not making any more of it!
My opinion is that the current housing surge is being driven by people who need more space for screaming children and home offices and are willing to pay whatever they need to for it. I know it's why my brother bought a house he thought was $250k overpriced - just to keep his wife happy during Covid.
These factors and the state of Covid WFH are, IMO, not permanent though. Time will tell. If we're never headed back to the office maybe these prices are here to stay.
- giantg2 5y ago"just to keep his wife happy during Covid." If one needs to overpay a quarter million to keep the wife happy, implying house size is a factor in the quality of the marriage, then perhaps there are other issues to look at here. But I do agree that some people were upsizing, moving out of cities, or just not wanting to delay purchasing for a few more years.