Hello fellow rebel capitalists hope you're well wanted to dive into some housing data.

I think many of you understand that the current market is in a massive bubble.

It's been expensive for a long time though.

Been expensive for, I would argue many years.

I started to sell my homes in the United States, the portfolio that I built in 2012. I started to sell in 2018 and I sold the last property I announced on this channel. I sold the last property about a year ago, something like that.

And the prices still went up after I sold. Of course I was happy with that no problem because I'm not trying to time the top of the bottom just

trying to buy things when they're cheap and sell them when they're expensive and I

was able to do that with my US real estate but let's get into some more of the actual data.

We understand that housing is in a bubble, but to what degree has it come down?

What can we expect with the real estate market in nominal terms and real terms going into 2023.

And to analyze some of the data and the charts, want to go over to Zero Hedge and an article from someone who I think is incredibly underrated, Lance Roberts, and I would strongly suggest following him on Twitter and also he

teams up with my good buddy Adam Taggart on the Wealthion podcast and I think they do kind of a market summary every Saturday

which I would strongly suggest but Lance is really a sharp dude and so let's go over this article that he posted on Zerohead. So the title is

Current Housing Price bubble, makes 2008 look quaint. And yeah, it is true that if you and I love how people say oh we're not in a bubble we're not in a bubble. But you asked them well were we in a bubble in 2006? Well, of course. Well, yeah, of course we were in a bubble then. Everybody knows that.

Well, if we were in a bubble in 2006, how are we not in a bubble now when a price is adjusted for inflation are even higher.

Price to income ratios, higher.

Pretty much every single metric and they said, well, supplies down.

Well, okay, I get that that but that doesn't mean that that housing

prices aren't far higher relative to incomes, which I think is the most

important factor, not the only factor, but definitely the most, the one that you have to prioritize when doing a proper analysis.

That's for sure. Let's keep going reading the article. So home prices start to correct as interest rates rose sharply in 2022.

So he's talked about over the last three or four months.

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