They went from feeling like they were on the top of the world ti being in survival mode real quick. They took on too much leverage. It’s the same story as last time. They all thought it would only go up. Ppl are gaslighting this already, but they were all saying “this time is different” 😂 year fear greed and envy are different this time
Discussion
It’s not just commercial real estate that is fucked but yeah that part is new. But that’s another reason why this time is worse than before, no better. Prices have to come down, the demand is no longer there. The environment has changed. Money got a lot more expensive, and the results were predictable. The fat that was paid well during the growth years were the first ones cut during the survival years.
We literally have a banking crisis going on rn too. Who do they think actually owns the houses? It’s not Karen. It’s the banks. Do I have faith in them? No. Hyperbtc . I can’t believe they still haven’t figured it out yet tho and ppl are buying more RE rn instead of btc lol btc should be way higher already if they understood it at all
I can see them converting offices to apartments too I doubt we ever need that much office space again especially once the boomers retire