And you don't see a problem with that sort of irrational inflation?
Affordable housing in Santa Ana.....
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.