Reply to Federal Reserve: signs abound that housing market is entering bubble territory

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][i] [b]And unless you overbought in a weak market[/b], it won’t take 10-20 years to regain loss. [/i]

Yes, there are pockets of real estate that suck. Don’t ever buy there. Or at least don’t buy at peak there.

Undesirable areas/properties are always the first to fall and the last to recover. And they aren’t representative of the overall market. 
[/quote]

Everyone buying right now is overpaying. Some by a little, most by a lot. And some by a staggering amount. Case in point: https://www.washingtonian.com/2022/02/18/photos-this-dc-house-sold-for-800000-over-asking-price/

That buyer will probably never get their money back. [/quote]

The asking price was very low given the unique property and large sq ft compared to comps. $800k over is misleading.

Depending on what happens, they might be screwed if they try to sell in the next few years but they will be fine. It’s a desirable area. 
[/quote]

They have 4500sf and a pool in a great location.  I doubt they're trying to turn it over for a profit in the next 5 years[/quote]

They have about 3000 square feet, which translates into a relator’s 4500. [/quote]

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