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.