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With the economy in a meaningless drift, you would think that commonsense would raise its hand. But no! Per Realtor Mag, 81% of metros saw rises, with 17 of 30, seeing rises in the double digits. Are you kidding me?
Diseased Unicorns and Stock Markets
The irony here is this. The tech bubble is in an amazing swing, with all the Unicorns and their sugar daddies infested from the inside out. The stock markets, across the globe are just meandering in some marshy territories. There is absolutely no reason for this sort of unabated craze.
And when did houses in San Jose, CA started costing $940,000? Falsely advertised as the back yard of Silicon Valley, it is more like the backyard cesspool of the valley. I live there. I know. You simply cannot lie to me.
Who is to blame?
Knowing what is out there, if you paid $940,000 for a house in San Jose, YOU and only YOU are to blame for it. Because, sooner, rather than later, your house is going to become worth less than half of that. I don’t care how many promises Apple, Samsung and Google make of bringing jobs here.
References:
- The Realtor Mag Article: http://realtormag.realtor.org/daily-news/2016/02/12/home-prices-are-accelerating-again
- Image Courtesy of: http://pexels.com
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