I believe history repeats itself. I do not believe that jobs that didn't exist four years ago have just magically appeared in this country. No matter the spin given us, this rise with it's inflation will deflate. I refuse to pay more for a property that is selling way above the county auditors tax assessment. I am saying hang on folks. This good times roll can not last and will come to an end. That's when those with cash will be able to swoop in and like "Old Man Potter" of "It's A Wonderful Life" will be able to name their price.

Me? I am standing down on purchases and making overdue improvements to my buildings. I am Jim from Ohio and I have approved this message.

I agree with Larry here. I am not looking forward to the next downturn here in the U.S. because it will probably come sooner than 8 years and like 1929, it will be really bad. I am so glad I got completely out of the stock market since that will be the first thing to crash.

I am planning for the worst and hoping for the best. It's the Roaring 20's! Party like there's no tomorrow. Because there might not be! ;)

We are way over extended in the stock market since we sold our rentals. But what are you going to do? It's been a fantastic couple of years, best since I was flipping houses in CA.

At least we have a nice new truck to live in when it all comes crashing down. And I'll look good driving to the poorhouse in my Corvette.

I am working on a deal for three problem houses in our HOA and we should hear in the morning on a 4 lot package we put an offer on to build more mobile homes.

Three years ago I thought I was going to be pushing up daisies, and here I am nearly 65 years old, and making the biggest deals of my life!

Life is Good.

i think 70's is a better analogy than the 20's. Both had inflation, assets going to levels that shouldn't occur. One big difference, is why? 20's, lots of $$ made in the stock market and inflated other assets. 70's, govt printed $$, removed from the Gold Standard. Inflation took off. Fast forward today...

Nope. I don't agree with the comparisons. We live in a day and age of fast communication.

Problems can be dealt with quickly,

I believe you are reading too many headlines or listening to too many people trying to position themselves in a " I said it first" scenario.

Starting with stocks. Understand that we are seeing more people active in the market by using their phones. These people are young and don't fully understand what they are doing. We are also enjoying the age of solar, electric, and new forms of delivering healthcare.

It stands to reason that the market should go up and down often.

(Anyone reading in this far will also mention Bitcoin).

As for realestate. What is a crash in the headlines? A commercial to sell you prepper food packages? Or a drop of five percent or ten percent? It is a correction if I'm trying to sell you a house, it is a crash if I waited and didn't buy a house two years ago when I really wanted.

All these headlines knock themselves out of the running because they are commercials.

Years ago I commented that my Realtor friend said the prices had gone " stupid" It was funny the way she said it. I wrote about it here and one person responded with excitement . That person kept buying and selling for another two years before the market subsided. Others had already stopped buying. I was just telling a story...I don't believe I was buying anything back then.

The person here, who didn't listen to headlines did very well

Think back about yourself then and now. Do you own too much now? Have you bought too much? Chances are you probably manage your lives well enough that none of the events of the future will sink your ship.

Jim,

I would encourage you to look for a niche that is up and coming instead of following all the other fish in the school.

You are spot on in that all good things come to an end. They have been doing Sheriffs sales here for a few months and I ma noticing that instead of mostly starter homes going up for foreclosure, that the number of units is split between starter and second and third tier homes.

Dang, Smoke...you nailed it! People have been predicting a "crash" in the housing market since 2013. Think of how many missed out sitting on the sidelines these past 8 years? We've more than doubled our business, expanded into commercial, and netting well over 6 figured in cash profit and almost 7-figures in equity/appreciation.

The markets would have to tank Great Depression style to wipe out the equity, but we'd still have all the cash flow we received. They might tank...they might not. There are no immediate signs. As FED continues it's easy money policies, I only see prices going higher.

Ray also has great advice: don't keep doing what everyone else is doing. If everyone is diving into Multi-family...then go for commercial. If everyone is diving into buy-and-hold SFH/flips...then go into nightly rentals.

Here's something many people don't know because they've only read headlines instead of history text books: fortunes are made in good times and bad times. What matters is are you paying attention and prepared to take advantage of the opportunities? Modern America's seeds were sown during the Great Depression by people who invented things like fast food, the supermarket, discount brokerages, REITs, etc. The same happened in the 1970s during stagflation: tech giants that are household names today were birthed while other twiddled their thumbs. The Lost Decades post-DotCom was an excellent time to scoop up bargain stocks by the truckload. Even Rona-crisis gave me enough of a boost to go up more than 300% of what I invested in March 2020 vs. what it's worth today.

How to be ready?

Pay down debt. This limits risk and prepares you to jump in and strike when the iron is hot.

Look at asset classes that have fallen out of favor unreasonably. I started doing this a year ago with things like automotive workshops. Look at the landscape now: you can hardly buy a new car, and used cars fetch a premium. My tenant/mechanics are working 50+ hours a week and charging top dollar to keep vehicles running. The 12 bays I have are bustling with activity and no signs of stopping. I wish I had 4x more of these places!

Yes, the times are roaring. But don't be a slave to "the Times" because "the times they are always a changin'". Rather, focus on sound business practices, keep your financial house in shape, and always seek new opportunities.

The critters that get squished on the highway are the ones that freeze and don't move when it sees the car coming.