Redfin CEO Says Slowdown In Real Estate Is Here

Real estate has experienced an incredible surge in price over the last decade. Appreciation has hit or exceeded levels seen during the subprime mortgage crisis. Cheap money has fueled asset prices, leaving ordinary Americans on the outside looking in. House affordability in major metros has become so outrageous for many that living in your car has become an alternative. Redfin and Zillow are now warning of these astronomical levels. Laws in California have become somewhat relaxed in order to meet the demand for these people. In San Diego, the safe parking program was expanded to allow more parking lots for people who live in their cars. The trend is called the “wheel estate boom,” and luxury Prius’ with the built-in reclining bed may be the next product push from Toyota? Maybe Toyota has an emerging product line, such as an RV accessorized Toyota?

Cheers,

Colin

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