@Gerardo Hernandez I am sorry to be the bearer of bad news but @Greg M. was spot on, and you went from emotional over-reacting which actually your agent got you into a good deal despite, too emotional over-reacting running out of it. If you think your going to come awash in 1%+ deals any time soon, I am sorry my friend, all the novice yapping about a impending collapse is just that, novices yapping.
Our market driver is replacement costs via supply shortage, those two working on concert = pricing index rising significantly in many if not most markets. How much can you build one of those duplex's for? $350k? Yeah, think on that for a moment, does it make sense there will be a market of half priced properties?
Now yes, existing is priced under new, but nowhere near 50%, never been that way in centuries, never will be.
Fact is when a person, ANY person, sells a property they want to get the HIGHEST dollar possible, can we all agree on that. Ok, so what dictates what the highest dollar is? See this is the math novices miss constantly. While one will argue other offerings, that's not true, what is their HIGHEST DOLLAR driver? It is NEW CONSTRUCTION, replacement value is THE market price setter, on an economic scale. Don't believe me, just look around, this entire environment of rising prices is possible as new unit pricing was brought up, new units are THE ceiling cap.
Generally existing units range 10-20%'ish reduction from new, lot's of variables adjust that number but those are good averages to use. So new unit costs go up $50k, do you really think existing wont go up also? Each lives in a perfect relation to the other.
Now bring in our green eyed monster friend called INFLATION, who likes to devour dollars in mass. Throw inflation into the mix and cost of new units go up all the more, as does wide spread tax increases.
I get it, people all over hate change, you want things to be as they always were, it's the national anthem of the dinosaurs, and it will earn you the same reception. Fact is housing is more expensive today than it used to be, and that ain't gonna change any time soon, other than it's gonna keep going up until someone waives a magic wand to remove a few million home/residence seeking people from the mix, say 10mill should be a good start, or reduce cost of new units 20%+.
Housing collapse, did you not read the above? Exactly how does housing collapse work when there is more NEED for units than units? If I have 2 apples and 235 people want apples, how does the apple market collapse? This isn't complicated folks, you just gotta use your head for more than a neck-weight, stop regurgitating so-and-so on YT or FB or whatever your poison and THINK FOR YOURSELF a touch.
Gerardo, you need to chill, like a lot. Get a hobby, make models for a while, learn to not have your emotions drive you so powerfuly because that is a recipe for disaster all over the board. Housing investing will always be there. Fact is you didn't, (and from what I have seen all but none others have either) factor in rent appreciation, property appreciation, time value, value of having actually gotten into the game, value of association, education, building cred., and all the other things that novices don't really know or preach in their online hero-rantings because experience is 10x more valuable than any other thing in REI, fact. So what if it wasn't perfect cash flow, know what you do, WAITE. Yeah, you got time on your side, or improve it, or VRB it, or or or. Fact is sitting sideline is never a tenth as valuable as getting in the game, just get in, go, DO something. F fear, seriously, ya gotta just face it and do it, it will never not be scarry as hell that's why us who do are the 2%, cause 98% are too damn busy talking about it and all the fear, they call us nutz, crazy, risk takers, and later, rich, hero's, visionaries. The difference, time.