We learned that people like to gamble and that it’s easy to push things forwards.
Also, better jump on the loan band wagon, or you’ll be left out. Anyone without a mortgage + houw which appreciated has basically been robbed by people who do
But lenders aren’t going to suddenly go from approving 100 loans a month to just 10 a month. The incentive structures are designed to weasel and lie to pump out flattering bottomlines every quarter.
You can trot out the statistics but you can’t change human behavior without changing the incentives.
There’s been massive capital movement across the globe. Money moving out of China and Russia in particular. And the gulf countries with a surplus of cash thanks to multiple years of expensive oil.
But it’s really just speculation. I haven’t noticed an influx of ore Chinese buyers into my market.
Yes prices are crazy but if demand is still not being met, then prices are meant to be crazy.