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In '08 people walked away from underwater mortgages. The market was already undersupplied and overpriced, the price inflation trajectory expectations were just
by worstspotgain 2y ago
In '08 people walked away from underwater mortgages. The market was already undersupplied and overpriced, the price inflation trajectory expectations were just exuberantly overshot.
If you want to see a healthy housing market, look at pre-1970, or at (much of) Texas today.