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@jerib This started in October 2021, before the war in Ukraine even began.

@resjudicata It’s rampant speculation and investors pouring into the housing market and limited supply driving up the prices. It has all the signs of a bubble. This simply isn’t long term sustainable.

@resjudicata In Southern California you need to make at least $120,000 a year to afford a mortgage for a 30 year old condo in a bad neighborhood. So I would say the housing market is extremely overvalued.