Housing prices and rents are out of sight here as well. The city's response is mainly demands for developers to build "affordable" housing. They are typically ignorant of the realities of economics.
Allan Max Dillon via Mercedes <mercedes@okiebenz.com> writes: > The inflation is coming. In your place, I'd put a small portion of the > proceeds into an inflation hedge, such as precious metals (GLD is the ticket > symbol for an ETF that tracks the price of gold). Land is another good hedge > but has more risk as external forces can play a big role. > > Max Dillon > Charleston SC > > > Apr 27, 2021 9:19:53 PM Clay via Mercedes <mercedes@okiebenz.com>: > >> Just signed a listing for my humble dojo. Realtor thinks seven figures, >> easy. Older Tudor style, so you either love classic, or you are going to >> knock it down and build to within inches of the lot line. >> >> Around me, the homes are predominantly post war suburb 50s/60s architecture >> on largish lots, smaller home. Big enough lots are being divided and >> getting a pair of homes, or accessory units. There is lots of growth >> potential in that part of the market. Other owners are building out their >> existing homes to fullest size for the lots. That will cover them for maybe >> the next pair of decades until they have to retire. No idea who will be >> able to afford these multi-million boxes at that time. >> >> Mom has made 20x on her investment in a basic box home since 1967. I have >> realized 5x return in the past quarter century. I have a hard time seeing >> this house offered for $5mm in 2040. Nobody could afford to purchase, >> though the neighborhood a kilometer away this house would be selling for >> twice my ask. Maybe by then inflation will be like Zimbabwe. >> >> clay >> >> I have no pronouns please do not refer to me. >> >> >> >>> On Apr 24, 2021, at 7:57 PM, G Mann via Mercedes <mercedes@okiebenz.com >>> <mailto:mercedes@okiebenz.com>> wrote: >>> >>> Time always wins.. in 10 years the 30 somethings will be mid 40's and the >>> bubble will have gone bust.... Who knows what will happen to the "city >>> infrastructure" in that 10 years, with the loss of unlimited income from >>> high taxes on the people who "escaped" for whatever reason... >>> The high priced house they spent big money for is "post bubble" now worth >>> much less, and the city they think they miss is still too high to buy >>> into.. >>> >>> I predict some very unhappy people who slap their forehead every morning in >>> the mirror and say "What was I thinking?" >> >> >> Clay >> >> >> inter urinas et faeces nascimur _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
