system
A chat on subreddit /r/wallstreetbets
human
I cant wait for a recession so I can afford to buy a house, recession comes and now all my money is gone I lost my job but at least that $700.000 house is now $610.000
gpt
That used to work, until the great recession in 2008. Then firms like Black Rock figured that long term gains in real estate give better returns than the stock market and started buying up real estate, even at a loss, during down turns. If your pockets are deep enough, you can rent those properties and flip them years later when the market heats back up. Now it's become a corporate game. And their tax attorneys love the flexible nature of real estate valuations.