Re:Ask HN: How Bad Is the Current Market? Pt3
by VagueMag on Sunday March 19, 2023 @10:36AM
(#35219339)
I'm not talking about going down 50% for a year or two and then rebounding when the Fed re-juices the markets with liquidity, I'm talking about grinding down over a couple of decades to something like -75% and staying there, and this would have huge implications beyond just where buyers & sellers can transact.
Good, it's been increasing at an out of control pace for a long time, but especially since the pandemic.
I'm saying this as a homeowner myself, whose home went up in 'value' almost 50% since I bought it five years ago (it really hasn't, if anything it should have gone down a bit from wear and tear, it desperately needs a new roof, deck, fence, and some gnawed up corners of walls and trim patched up from puppies when they went through teething).