Here we go. Just like the early 1980's

#1
#2

I purchased a house four years ago and according to Zillow the current listing price is almost 60% higher. Ridiculous.

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#3

This kind of topping process seems to happen just prior to the flip; at least it did in the early 80’s when Volcker raised rates. By the 90’s, homes & shopping centers that were vacant here were literally bulldozed.

#4

Surely a sign of the age old practice of alchemy, making something out of “nothing”…to see here.

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#5

Yep, you could call it “Bankers Alchemy”, just like 2008-09. The only ones left who can afford to buy are the rich, who will buy for much less than the property is worth, else, property is taken for unpaid taxes. Either way, rich get richer, govt gets richer.