>>512061371 (OP)That number is make believe, though. Houses are not being sold at current rates to actual homeowners (at least in any meaningful degree). This is just another housing bubble only this time there’s no subprime-mortgage-backed-security to obfuscate the obvious stupidity at work. Investors are buying property and trying to sell it for more than the market will bear and they’re going to be stuck holding the bag on it. House sales are just one instutional speculator selling assets off to another institutional speculator. It’s a joke. It’s literally cheaper to rent than to buy right now; nobody is buying these houses.
So are they really “worth” that much? Based on what, a Zillow listing nobody is acting on?