Investors Are on the Lookout for a Crash. But Prices Keep Going Up.

Source: Ludwig von Mises Institute
by Doug French

“An insider confided to a friend that all he is doing right now is transaction work for real estate holders who are selling now before the market crashes. His clients, members of Sin City’s illuminati, once bitten by the ‘08 crash, believe they’ll beat the crowd to the sales window before the local retail and office market collapses. Tiny capitalization rates translating into unsustainable values are being dangled in front of these folks and they are willing to absorb the tax consequences to cash out and be ready to repurchase their properties back at a discount in a couple years. Easy peasy. With the country just emerging from lockdown, where’s the crash already?” (07/15/21)

https://mises.org/wire/investors-are-lookout-crash-prices-keep-going