However, this corroborates my view that there is indeed a new/continued housing bubble and
, naturally, the potentially for it to fuel another crash. I’m lucky to be in an apartment with rent that doesn’t routinely increase, but what was barely affordable market rent ten years ago is now slightly less affordable below market rent. In a world in which we need either an even larger apartment or, better still, a house rental. Neither of which will happen any time soon, though certainly they will happen sooner than home ownership. The only way I’ll ever own property is if I pursue my old dream of buyng a piece of insanely cheap land in the middle of nowhere so I can at least camp out on it now and then, perhaps build a cabin getaway, or if the housing market fully crashes next time and I am in a position to take advantage of it. It was a big surprise to me that houses didn’t deflate to what they were worth in the last crash, and tended still to be overpriced. The house next door last sold in a $100,000 short sale, at a price that was somewhere between 20 and 70 grand more than I’d have considered appropriate.