![]() Renovate a house and increase the price by $100k? Everything is a bubble or cover up or scam. The system is rigged !!Īs renters and boomerang kids, they do not appreciate the labor shock or supply chain. It's all a scam and trap for stupid people and sucker and sheep. "But why has nobody heard about this?" This is another key point – a total lack of faith in the mainstream financial sense. They also ban anyone with a divergent balanced view. It was sad to watch, so I stopped participating and trying to help give a dose of reality. They have been calling for a crash since 2020, and have now become unhinged and hysterical. They then dance and exclaim that 2006 NINJA no doc loans 5/1 ARM mania are back and crash is imminent. Some of them truly believe they are the only ones who have a 20% down payment, or are the only ones earning $125k, and they focus on the lone outlier who puts down 1% or earns $75k. They feel they are special and superior to the "clueless" masses. They only see "number go up? Crash imminent!" They see one person who goes 40% DTI and they dance and celebrate a crash is coming while ignoring broad FICO scores, urban diaspora, hybrid work, stock market profits that can buy a house with cash, prior home equity, 3% amortization, etc. Most of the stuff that excites them is based on half-truths or misunderstandings. At this point, buying any real estate means suffering a great psychic injury – can you still be a renter savior no homer if you go to the dark side and buy a hooom? (Yes, they have their own lingo to denigrate the "sheep" outside of the cult, just like a real cult) This means, essentially, to even buy a condo is to kill off the most vital, zealous part of themselves. Their mission is now a core part of their identity. ![]() When it fails, they move onto the next catalyst. They eagerly early line up each time waiting for the big one. Yes, they've even become climate change experts in shaping their world view of imminent RE crash. ![]() Eviction wave! Foreclosure wave! Back to office work wave of selling! Rate hike by 0.25%! Fed! Population trends. I've seen people distraught, on the edge of hysteria, because of some great new crash trigger on the horizon. More than that, they are emotionally invested. They find normal isolated examples of buyer's remorse and celebrate a tsunami of selling that never comes. One prolific poster posts links at all times of the day, day and night. So I hear a lot of "Why isn't somebody doing something?" "Why aren't people angry about this?" This sense of righteous zeal means, as with almost every other form of online activism, they feel they are at war. They are driven by the idea that they are fighting an injustice that nobody else can see. Someone please cross post this into the Doom-scrolling crash bubble echo chamber in r/rebubble which has been a confronting, exhausting and often bewildering experience. ![]()
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