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A real-estate agent promised guaranteed home appreciation. The speaker argues no one can predict the housing market, citing the 2007 downturn and COVID volatility. Even major macro events like war could shift everything overnight.
A real-estate agent promised guaranteed home appreciation. The speaker argues no one can predict the housing market, citing the 2007 downturn and COVID volatility. Even major macro events like war could shift everything overnight.
We've also seen agents over the COVID era— I may have gotten into an argument with an agent in Denver, Colorado. Hey, Denver friends! Who was telling people, buy this house, I guarantee the market's going to go up over the next 6 months, you'll make all this money, you can sell it and take that money and put it into your next house, and that's how you get your dream house. And he thought this was a good way to do business, and of course I being who I am, had to say something about it because holy smokes, y'all, you have no idea on what day the markets are going to shift. You have no idea what the numbers are going to do. You can never guarantee equity. I don't care that the markets are up since 2019 to now. World War III could break out at any given moment right now. If that happens, do you know what happens to the markets? They will go quiet like they did in July of 2007. Until people figure out what to do next.
