If you've got something to sell, sell. I can't say we're at the tippity top of the market but things are starting to look pretty bubbly. Redfin recently reported that days-on-market is eight days shorter this year than last year and in the markets I watch, prices have long since detached from reality.

Wanna see the hottest-shit neighborhood in LA? Here you go.

Median income? $42k a year. 58% renters. 8.4% with a college degree. Wikipedia used to say 80% of the 85% latino population was Mexican nationals but they don't anymore. Nonetheless, home values are increasing 8% per year and the median home price? $563k. I happen to know this weapons-grade shithole rather well as I have to live there 3-6 months out of the year. And yes - there are now well-heeled hipsters moving into the barrio responsible for LA's draconian anti-gang laws.

Do the math. You're supposed to spend no more than 28% of your income on mortgage payments. That's a $980/mo mortgage payment. If you're buying the median home with the median income and making the suggested payment, you put over $350k down - over 60% of the value of the home. How likely do you think that is?

How much more likely is it that there's loose cash buying up properties because there isn't anything else making money?

And what happens when people would rather put up with roommates than pay more than a half million dollars for this shithole?