As far as I can remember -- my entire adult life -- I've heard about this great real estate bubble in the big cities. Every year I hear NYC and SF are about to crash because the growth is not sustainable.
I assume this myth has been around much longer. Perhaps people know what was being said or written in 90s, 80s, 70s and 60s.
But in spite of all this, in spite of temporary slow downs and slight blips, the broader market just becomes more and more expensive. Numbers that seem to make no sense, or seemed absurd even 5 years ago get blown past.
I don't know what the reason is, but I would love to read a truly satisfactory explanation for this.
I assume this myth has been around much longer. Perhaps people know what was being said or written in 90s, 80s, 70s and 60s.
But in spite of all this, in spite of temporary slow downs and slight blips, the broader market just becomes more and more expensive. Numbers that seem to make no sense, or seemed absurd even 5 years ago get blown past.
I don't know what the reason is, but I would love to read a truly satisfactory explanation for this.