Found a 2018 Reddit thread where a guy predicted the whole housing crash in Texas back in February 2019

Was digging through old posts on r/REBubble after my neighbor's house sold for $50k over asking in Dallas last month. This one user named u/CaliExPat 2019 laid out exactly how Zillow's ibuying algorithm would inflate values and then collapse. He got ratioed into oblivion but every single point came true three years later. Anyone else got a pre-2020 housing prediction they still think about?

2 comments

2 Comments

taylor_patel9d ago

Had a buddy in Austin who was dead set on buying a starter home in 2019. He kept watching these comps climb every week and got cold feet. My friend decided to wait for prices to dip a little before jumping in. Fast forward to today and that same house he was looking at is now 80 grand more than the original asking price. He's been renting the same apartment for four years while the market keeps leaving him behind. I still think about that thread whenever I hear someone say "wait for the correction" because sometimes the correction never comes.

quinn1618d ago

Well shoot, that story about your buddy hits close to home. I did the exact same thing in 2019 with a little condo in Plano, kept watching the numbers climb and thought "I'll just wait till things cool off." Now I'm still renting the same cramped one-bedroom while that condo has gone up about sixty grand. At this rate my grandkids will be the ones closing on it. I guess my crystal ball was just as cracked as everyone else's who thought they could time the market.