patrick.net

We're so far past the 2000's RE bubble. That there is no RE fundamentals or basis for justifying any housing values. The rent seekers will just buy them up before they ever drop in price. It's like in old Europe countries. There is no available RE, it's all locked up in aristocrat manors, and acreage belonging to bluebloods and royalty. It has no intrinsic value because none of it is for sale. That is why folks in the UK live apartments, that makes a rundown airstream trailer in a Las Vegas trailer park, seem posh.

But what a fitting deserts for a generation that fantasized about living in converted Railroad containers, and tiny houses, rather than being repulsed and seeing it as the aboding warning that it was.