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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: stsimon who wrote (168808)	2/21/2021 4:23:42 PM
From: sense	Respond to of 219795

I've been having this discussion with friends and the realtors I use for a long time... often asking the question, in context of the market end game in Detroit... now long since hollowed out by the removal of auto manufacture from there to Japan, Europe, now China... Tennessee... where-ever. And after 50 years the market in Detroit has "sort of" bottomed... although still not without it being left looking like it has suffered not just the economic but the physical impacts in the aftermath of a war. Large swaths of old neighborhoods are denuded of homes... leaving a few standing here and there as if the lucky survivors of a tornado... Just a few years ago you could buy them for essentially nothing... easily for $100... except that the price came attached with an large, unmet and then ongoing tax liability... The origins of that debacle (and particularly who caused it) are ignored today... as the same things are being done now in Seattle, Portland, San Francisco, New York... with the assumption that "it can't happen here" providing a smug insulation from the recognition that... making it happen is ongoing. I've been more insistent in that conversation since September last year... noting that going into the mortgage crisis in 2008, most were caught unaware when the frauds of the banks were exposed... and that generated a lot "seat of the pants" flying in response to the "you have to do something now" pushing forward to justify doing the opposite of "fixing it"... I hawked that event... and was able to properly discern the points of inflection... in spite of the rush job... or perhaps because of it ? Anyway... this time around... there is no "crisis" driving a need for extraordinary action. It's not like the issues we face now have "crept up on" anyone... But, there's also not much of a plan apparent other than "rent moratorium" and "we can wait it out"... without any rational endgame being defined... so, creating a crisis where there wasn't one... My realtors had no answer... other than "that's not a problem here"... in the zones where the refugees from the urban exodus are landing. All that by way of introduction... to point out... the top of a bubble... is not the bottom. And when the bubble pops... things will again become a lot more interesting... and dynamic... once again requiring discernment in parsing the impacts of choices being made in a crisis... "that no one could see coming".