The Housing Bubble: Will It Really Burst?

[Russell Brazil]

It is insanity out there. This article mentions one property that went up 96% in just 3 years!

Another property 130% rise in 4 years!

[Bill B.]

When inflation was 1-2% and housing was going up 7-8% it “couldn’t last” because housing goes up on average a little more than inflation, not 4 times it. So now inflation is 7-8% so should we expect housing increases of 10 or 20-30%?

ps. As mentioned in my previous posts. A cabin I bought 21 years ago went up 400% (to 5x my purchase price to be clear.) it wasn’t a big blast in the last 2-3 years, though that helped, it’s just compounding inflation year over year. My mom’s small mpls home was $20k fifty years ago. Now it’s a little over $320k, a 15x gain. Explaining to people today that 90% of houses will be over a million dollars in 20-30 years is as hard as it woulda have been to tell my mom that when she paid $20k. (Pretty good return on the $500 downpayment they only had because my great grandmother died and left the $500 to them.)