I don’t know anything about this guy, but here is a presentation on the trends of real estate over time – and why we will see the upward price trajectory continue. He has a couple of other related videos too; look for them linked at the end of this ‘tube:
Prices to Continue Skyward?
by Jim the Realtor | Nov 7, 2014 | Jim's Take on the Market, Market Conditions, Thinking of Buying?, Thinking of Selling? | 10 comments
Am I really to take this guy seriously when he uses hand drawn charts and a back scratch-er to make his case?
This was entertaining to say the least.
Come on man, it’s efficiency. You never had to scratch something while doing a presentation?
I thought he just had a skinny arm.
LOL 😆
At the height of the housing bubble I read many impassioned editorials stating emphatically that it was not a bubble, simply “supply and demand”. It’s amazing how many people are unfamiliar with the concept of “artificial demand”. Beyond that, simple ignorance of broader underlying trends that may seem unidirectional to those that don’t consider history prior to their birthdates.
Someone needs to show this guy the Case Shiller 100 Year chart.
Seems a bit simplistic but I generally agree,
Grab something while you can, I doubt we will see anything like we saw happen in 2006-9 in our life times again.
move on.
OK, so the 1100 square foot two bedroom condo selling today for $400,000 will grow in value to $2,800,000. $280,000 down on the condo and then borrow $2,520,000. Absent other debt the lender might loan 4 times income. So, the buyer’s income will need to grow from $90,000 to $630,000 annually. Looks like we’re in for some extreme inflation. I’d like to see the interest rate curve for the same time period.
The numbers may be somewhat exaggerated but I do think anything close to the SoCal, metro area’s will be a lot more expensive 10-15 years from now.
I thought this video was terrible, very sophomoric. The reason house prices went up after the dot com recession in 2000 is b/c lending got totally out of control (stated income, zero down, option arms, interest-only) – more out of control by far then ever in history. It was not because demand outstripped supply! If lending didn’t get out of control, we may have stayed in the recession after the dotcom bust much longer. Wages are not rising! How does this guy think prices are going to go up 700%? The main reason they have gone up is we have the lowest rates in the 238 year history of the U.S. courtesy of the Fed.
His video has 132,000+ views, which is 5x more than any of mine, so somebody is watching. It doesn’t matter if he is right or not, all that matters is whether people believe it – and act on it.
If we’re just talking about dollar value, the value of real estate could increase significantly, just from devaluation.