https://youtu.be/Z1YHIMpYdxg?si=W32xlnb4zJVGhnAd
I believe this ^ is the correct take. The paper (cash, bonds) is what crashed and everything remains at record high price levels. Really the unit of measure (fiat) crashed. Everyone is expecting a crash that isn’t coming.
It’s a max pain situation too bc soooo many people are waiting for the big one. And it is likely isn’t coming.
💯 I’ve said to myself for a while now that house prices must come down but am starting to rethink that. The way he compared the current situation to 2008 as being quite different also resonates with me.
It’s counter intuitive but I’ve started to realize this myself in 2024. I have a friend who keeps saying “the stock market has to crash” (in the US). And a few months ago I had a realization that the stock market really might not crash. I started to take the counter argument to his assertion and the light went on.
Everyone is trying to escape dollars (and inflation) and so that constant stream of capital into the stock market and real estate will likely just keep grinding prices higher. There might be a crack up boom of epic proportions down the road but I have my doubts real estate would sell off even in that scenario.
We’re in uncharted territory.
