i still don’t see it. turkey is small fish, no? Are you talking about local turkish re market?
Turkey population is about the same as Germany. More than U.K. Will it cause domino effect and get other countries infected? It’s strange that we don’t have any international crisis for many years.
Problem is that Turkey is not part of EU. So probably it is not as contagious as Greece
Are you from Turkey? 
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turkey’s gdp seems 1/2of of england, 1/4th of germany. And i am not commenting on the nationality, as usual.
This should have shown in the spring sales. But spring saw a increase in pricing.
Its pure demand/supply driven price equilibrium. I have been saying it all along.
What can happen next when prices go down(based on price equilibrium assumption):
No material changes in supply - Volatility in pricing as price keeps swinging between a range with demand
Supply increases - If its gradual then prices continue to decrease with predictable pace. If a large supply shows up then larger reduction that could lead to a flash crash.
Supply decreases - Prices goes back up or stay where they are
We all need to watch the supply. Large new inventory means panic sellers (investors and regular owners) flooding the marker to realize gains. If that happens all bets are off. Expect 20% or higher reduction.
Investors can crash the market right now. If that happens all the theories here about buy and hold forever will blow up with the market.
Interesting times ahead…
prop 10!!!
No Prop 10 please
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Most homes in Lynbrook high school area are from 1970. The price at that time was around $40k. Now they are selling for around 2.4M ( August numbers). That’s a growth of 60 times in 48 years. How many times do you think they have seen something like this? The rates are still historically low and job/ stock markets are at all time highs. Unless you say Prop 13 is going to be repealed, this stuff is just noise for them.
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A lot of those buyers are already dead…
Why would anyone sell prime Bay Area RE if they didn’t have to? We can weather any storm out there in the long run. This is such a nice place to live…I just went out to pick up my Friday burrito and it is beautiful out there. It is Outside Lands concert this weekend and the Grand Central Station Of The West is opening this weekend. Come on, Janet Jackson is here… Just don’t believe the hype!!!
You fell in love with your city 
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Honey moon is gone for housing market. But you can have your perpetual honeymoon with the City 
Honey moon ending doesn’t mean a full gloom and doom though
It’s better to be a homeowner than an agent or Redfin.
Redfin and Zillow can now serve as the barometer for the housing market
Redfin market cap is less than 1.6B.
It’s easier to become a billionaire by trump tower than Redfin
Own the land instead of brokering land
WB owns one of the largest brokerages in the country. It can be very profitable. Redfin just sucks at it.
Berkshire Hathaway’s real-estate brokerage division reported $220 million in profits in 2017, according to an annual report, down from $225 million in 2016.
Only 220M profit and not growing. But it’s good for Buffet who’s patient and low tech
It’s a low margin business. Barrier is low
1/5 a billion in profit is low? I wish I had low profits like that.
You can earn 140M to help Tesla go private. 220M for selling millions of houses is a lot of work