And you don't see a problem with that sort of irrational inflation?
Affordable housing in Santa Ana.....
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One man's "irrational" inflation is just another man's normal resort town pricing.
Washington DC suburbs, NYC, Jackson Hole Wyoming. Malibu.
I watched when prices peaked 2005-2007 and then drop about 35% in a couple of years. It was the end of life as we knew it.
Then I watched prices rise first slowly, then faster o reach and surpass the previous 2005-2007 market highs by around 2016.
RE prices are about location, and what time it is in what cycle?
A home in the OC which sold for $40,000 in 1974 is priced at about 7500,000to $1,0000,000 now.
I said priced at, not worth.
A home which sold for $12,000 in 1955 is priced at about $400,000+ now.