Meanwhile, some of us are buying real property in the real world.
Or is owning real property in meatspace so 2018 now? So passé?
sure, people are interested, but increasingly not being able to afford RE.
As i was posting before: house was 3x yearly salary in the 70ies, but 10-30X yearly salary in 2022, with 30x on the coasts.
When mortgage goes to 8% (and it probably will), we might have another crisis. Either prices would have to go down or demand would plunge and people would have difficulty to move.
In some ways it is already starting as everyone has 3% or below mortgages, but when they buy a new house, it is more like 5%.
So if people can't afford to buy something real without taking the time to save up to pay cash for it, they should spend their real money on buying imaginary bullshit?
It seems to me that some people spend too much time in an imaginary world, playing online games, buying NFTs, watching movies and TV, etc.
Wake up. There's a real world out there.