GalaxyFlyer wrote:There’s plenty of inexpensive housing in Asia, much in China going bust. Look at Zillow there’s plenty of housing under $200,000 in Florida. Heck, there’s plenty in Massachusetts.
We are talking about exceptional circumstances, like the downsides of bubbles. They don't tend to last more than 2-3 years. I guess people should financially arm themselves to buy these massive dips, but if everyone did that, then it would escalate prices erasing the possibility before it even began.
In a way I would like to see what would happen to a major metropolitan area if all supermarket, restaurant, cleaning workers and drivers just vanished. How would both companies and the professional / skilled trade / managerial classes left behind cope with running things after the lower wage workers all live beyond 250 miles of the outermost suburbs and no longer can commute to work there.