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> You wait, this bubble is about to pop. Not a great time to have large financial obligations. The people buying these houses have good financial means, when I

> You wait, this bubble is about to pop. Not a great time to have large financial obligations. The people buying these houses have good financial means, when I bought in 2021 the bank looked through all my finances in depth, and they were super conservative about everything. For example, I own an existing townhome, before agreeing to give me a new mortgage, the bank made me show a signed contract with a tenant for my townhome to demonstrate the townhome wouldn't be a financial burden. At least in the city I live in, Seattle, the housing supply is so obscenely constrained that only people who can go above and beyond to show they can pay, are even being granted approvals by the banks.

Kon-Peki 4y ago
After every crash, people make fun of all the folks that said "this time is different". Maybe that will happen again. And maybe not - or maybe there is no crash at all. I, for one, am truly perplexed. Some things look awful and some things look great. If there is a crash, perhaps it will provide clarity so we can look back and say "it wasn't any different this time".
- com2kid 4y ago
  The last bubble was obscene. 5:00 news talking about how many houses you should buy. This time around everyone who's buying is either paying cash or has had their income verified as being a large multiple of their loan amount. A lot of tech stocks had a huge explosion in value and I've seen a lot of people locally sell off and just pay the whole house off at once. They aren't cash flow rich but $800k down on a 1.5 million house puts their mortgage payments at a reasonable level for a couple earning 300k+ a year. I live in a state with all public records and it's very easy to just take a look at house sales and find out who bought them. Basically people who work at companies that had large increases in stock value.

Kon-Peki 4y ago

After every crash, people make fun of all the folks that said "this time is different". Maybe that will happen again. And maybe not - or maybe there is no crash at all. I, for one, am truly perplexed. Some things look awful and some things look great. If there is a crash, perhaps it will provide clarity so we can look back and say "it wasn't any different this time".

com2kid 4y ago
The last bubble was obscene. 5:00 news talking about how many houses you should buy. This time around everyone who's buying is either paying cash or has had their income verified as being a large multiple of their loan amount. A lot of tech stocks had a huge explosion in value and I've seen a lot of people locally sell off and just pay the whole house off at once. They aren't cash flow rich but $800k down on a 1.5 million house puts their mortgage payments at a reasonable level for a couple earning 300k+ a year. I live in a state with all public records and it's very easy to just take a look at house sales and find out who bought them. Basically people who work at companies that had large increases in stock value.