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by saint_abroad
1885 days ago
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> The system may be fundamentally broken, but the market is not. This gives me some level of confidence in saying that as of April 2021, I don’t believe that we’re in a housing bubble. Markets have the remarkable ability to function right until the very moment they crash. If functioning markets really were to preclude bubbles then, by definition, bubbles would only form in non-functioning (crashed) markets. This is, of course, ridiculous.* *That is, unless non-functioning markets can somehow be distinguished without the hindsight of a crash. |
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