There’s a problem with people who never had anything in their hands and all the sudden, brand new in a new country are told to follow the herd. They are like the lotto winner, they don’t think about what will happen if they return to be broke again. They will spend, show the luxury vehicle, the huge house, and so on.
Housing market is made of 4 elements in my world.
4- Easy money
1 & 2 are going hand with hand. Jobs are a correlation of an economy going in a good track, sets up consumer confidence but the creation jobs doesn’t mean the housing sector will see this type of crazy rise in prices. No, it’s the sudden appreciation of wealth in the hands of a few that will create this insaciable thirst for real estate assets probably by the actions of all the sudden rich guys. Add it a grain of salt via easy loans.
The job sector is bringing this inequality in the RE arena. We have had what? 5 years of buyers confidence in the RE industry, that good, that this industry is relying now more than ever in the increasing number of employees coming to this area so they can play the proverbial pot with crabs in it. One will pull the other down.
Being political 100% is one thing, acting political 100% is another. As this friend told me years ago when I complained of why me not having a handout on my immigration case, he said something like this: “why all that complaining? why haven’t you left?”