If you bought in 2021, what price did you expect your property to be worth today?
I’m trying to understand the strategy at that time, genuinely trying to get it. Please don’t treat this as a debate.
At around 7% annual appreciation, a $600K (1 bedroom price at that time) condo would be worth roughly $850K–$900K after 5–6 years. What were investors thinking? Who would have kept buying at those prices and kept the cycle going?
Even at lower appreciation rates, it seems obvious that prices were too high to keep rising indefinitely.