We sold our house 6 weeks ago or so ago (significant cash out) and moved across the country, and we decided to rent for a bit and gamble that the market would collapse more. But we hate renting and we are already capitulating and putting an offer on a house we found and love. Even with our cash the mortgage will be about the same as before, due to the interest rates. So now we will be gambling that the interest rates will not continue up for long, and that they will decrease below their current level within a couple years. It feels wrong from an investment perspective, but it feels right from a life decision perspective, and it feels right from a security perspective (owning a place we can secure, and where we can grow a garden, etc.), and in the event of a currency crisis it would be bad to be super long cash. Side note: we don't have kids or pets, so it's just my wife and me; and we both have family nearby.
What would you do? And why?
You don't. What is owning your own places today mean? Rent. More services causing it. All those utilities. Did you finally buy your own place or get the mortgage, hahaha, look at those increasing rates, hahaha. Rent. Even if you own your place. More rent. All those services like electricity. Water. Your damn TV. Buying more services. Then they just take your kids away. Get them buying more rents. Self sufficient. Hahaha. Chickens hahaha. You got the birds flu. Now they take your land away. Hahaha. You must be properly rented, vaccinated. Sure get your scouts badge, self sufficient, how much more rent are you paying for it.
You own less than gypsies. Own much less land than the state, collecting all the rents. Less than the foreign corps they're paying the rent too, making the prices higher. Less than any sheep grazing. Less than the parks full of tourists.
Seriously home ownership is at a historical low. Half or less than half the population own homes. They don't manufacturer anything else. Except the rent. Who invented the condo. People forcing rent. They're only making more condos today. Got get more rent from everybody else they sell the nation too. It drives rent, I meant inflation. It is subject to the bank's terms and conditions, increasing rates, off all the debt and all the taxes collected, and another Corp offering even more rented services.
Self sufficient is an alternate reality, one you don't own either.
In answer to the topic, the bubble is due. Cost of living. It is traditionally tackled by more home ownership. Except those rates have superseded it. Bubble. Home ownership traditionally needs manufacturing sectors.