linda_reed•2d agoProlific Poster

Found an old blog post from 2018 predicting the housing crash in my city

I was digging through my bookmarks last night and found a blog post from a local real estate agent in Austin from 2018. He was talking about how inventory was surging and prices were way outpacing wages, and he said 'this feels a lot like 2007 to me'. At the time I figured he was just being dramatic, but now with all the layoffs and rate hikes I'm wondering if he was onto something. Has anyone else stumbled across an old prediction like that that ended up being right?

3 comments

3 Comments

emma_garcia2d agoTop Commenter

Pull your equity out now if you can, that's what I did after seeing the same signs back in 2021.

murray.robert2d ago

Oh yeah, 2021, the golden age of "definitely not a bubble this time." I remember pulling my equity out back then too, bought myself a nice boat that I named "My Second Mortgage." Real talk though, if you followed that advice in 2021 you missed out on like two more years of insane price jumps. It's like trying to time the stock market, you're either a genius or a clown depending on which year you check.

mileslane2d ago

Man, people have been calling for a housing crash every year since like 2012. It's the easiest prediction to make because nobody knows when it's actually gonna happen. Just look at how many times that guy could have been wrong before this year if things had gone differently. Sure, rates are high and layoffs are happening but inventory is still super tight in most places, not like 2007 where builders were stuck with thousands of empty houses. Feels more like a correction than a crash to me, honestly. Wouldn't lose sleep over it unless you're overleveraged or something.