[Gregrobin]

It's definitely nice to see our home values increasing. However, unless we sell it's not realized. And if we sell we have to buy back at these insane prices. Unless you have a 2nd house to sell, it's really just virtual money IMHO.

It's the same for the used boat market. I have been trying to buy my next boat since just before COVID. The prices have doubled in some cases. The same year/make/model that I sold pre COVID for $80K is now listing for $140K. Boats I looked at pre COVID listed for $50K are now listed over $100k, and selling, quickly. I have also been trying to purchase a waterfront property since pre COVID. They sell in hours, above asking, no inspection, no appraisal, for cash. Last year brokers told me to wait until this year. Well, this year they are saying the same.

Buyers think they can buy more, pay more, because rates are so low. Illogical nonsense IMHO. You are not buying a loan/interest rate, you are buying a home, a boat, etc.

I do not know where, when or if this ends. History tells us it will, though we have never lived thru a pandemic like this, at least not in my 55 years on this earth :-)