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by pembrook
2002 days ago
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They’re able to slip this into agreements because conventional wisdom (even post 2009) still thinks real estate never drops in value. Momentum is the strongest inefficiency in most financial markets because humans have short memories. If I’m a dumb real estate investor in SF pre-2020, I don’t care if the bank puts that kind of requirement on me, because rents in SF always go up! |
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