Quote:
Originally Posted by asian_XL
I'll sit here and see how an economic degree can predict the NA real estate market.
btw, I also thought the same a couple years ago when sold my home waiting for the RE market to plunge to make big buck, but it was a reality check.
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you really have a hard on about economics degrees
no one EVER said they could predict housing markets, ESPECIALLY not north american (although i did make a call about certain US cities that I own in, and have significant cash flows and unrealized gains in those properties - my calls have been pretty close - we'll see if that continues).
and for you selling your house... well, NO ONE can ever time anything, EVER, and really, sounds like you were the one trying to predict a housing crash and got burned, maybe that's why you're so bitter.
also, a couple of years ago, there was nothing to start the fall - while things were overpriced then, there usually needs to be a catalyst for a slow down, right now, it's clearly the changes to mortgage rules that has brought this change, and boy are we going on a fun plunge down over the coming years... but all its doing it reverting back to mean (it will overshoot slightly, that's when the smart money will buy - and you don't need to time it perfectly as real estate moves from down to up quite slowly)
there's nothing magical about what i'm saying, nor am i predicting anything outrageous, just following sound economic evidence