Crazy Twitter thread about real estate from Sally Elshorafa of Buzz Feed.
I guess I’m a sadist so let’s talk about California residential real estate.
— Sally Elshorafa (@sallykuchar) May 24, 2021
Did you know it’s bonkers? Like just completely bananas. Let’s look at some examples.
Nobody knows what a home is worth these days.
Excuse me. Do I hear echos of 2008?
Will this follow the familiar pattern that this craziness works until the latest foolish buyer who overpaid for a home, with hopes of selling for even more to another fool, discovers that he is the last fool?
We know how this movie ends.
I was helping an agent with a CMA the other day. Very unique property that was impossible to find comps for. I told him ‘I hate to say it, but in this market you could pick your price and someone will pay it’ Keep in mind everything I said to him was prefaced with, “I am not a Realtor so I can’t help you with how to price a property.”