The Housing Bubble Needs to Be Destroyed

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by Chris Black

It is magnitudes larger than 2007.

Homes that already appreciated $150k in three or four years tacked on another $100k during April and May. Realtors are telling clients that whatever the asking price is, you need to start your offer 50% above to have any hope. Then they are using appraisers that are being paid off to justify the insanity.

I’ve seen houses that were already overvalued when they sold for $140k in 2012, go for $320k over the last few weeks.

There is no justification for it, and anyone paying it deserves to lose everything.

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Houses aren’t supposed to work like Doge coin.

Contractors want $10,000 to put in a bathtub.

The labor rate at most car garages went from $80 an hour to $140. One hour in a hospital is now $10,000, even if you just get a band aid.

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